Norway Savings Bank Has $432,000 Position in Truist Financial Co. (NYSE:TFC)

Norway Savings Bank decreased its position in Truist Financial Co. (NYSE:TFC) by 24.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,086 shares of the insurance provider’s stock after selling 3,623 shares during the period. Norway Savings Bank’s holdings in Truist Financial were worth $432,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Truist Financial by 5.0% in the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares in the last quarter. Morgan Stanley increased its position in shares of Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Truist Financial by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after acquiring an additional 883,416 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. HSBC upped their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Piper Sandler lifted their price objective on shares of Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Trading Up 2.7 %

NYSE TFC opened at $38.85 on Friday. The firm has a 50-day moving average price of $37.89 and a two-hundred day moving average price of $37.15. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities analysts predict that Truist Financial Co. will post 3.36 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.