Tweedy Browne Co LLC Has $27.66 Million Stock Holdings in Truist Financial Corporation $TFC

Tweedy Browne Co LLC decreased its position in shares of Truist Financial Corporation (NYSE:TFC) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 562,160 shares of the insurance provider’s stock after selling 13,575 shares during the quarter. Truist Financial makes up approximately 2.2% of Tweedy Browne Co LLC’s holdings, making the stock its 11th largest holding. Tweedy Browne Co LLC’s holdings in Truist Financial were worth $27,664,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Truist Financial by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after purchasing an additional 701,049 shares during the period. Capital International Investors lifted its position in Truist Financial by 0.3% during the 3rd quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock valued at $4,921,717,000 after purchasing an additional 346,423 shares during the period. Federated Hermes Inc. lifted its position in Truist Financial by 8.4% during the 3rd quarter. Federated Hermes Inc. now owns 10,445,658 shares of the insurance provider’s stock valued at $477,575,000 after purchasing an additional 813,177 shares during the period. Wellington Management Group LLP lifted its position in Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after purchasing an additional 10,310,523 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Truist Financial by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,492,845 shares of the insurance provider’s stock valued at $388,300,000 after purchasing an additional 168,464 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TFC shares. Royal Bank Of Canada increased their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $58.00 price target on shares of Truist Financial in a research note on Tuesday, January 6th. TD Cowen increased their price target on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. cut their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $49.48 on Tuesday. The company has a market capitalization of $61.40 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.87 and a beta of 0.92. The firm’s 50 day simple moving average is $48.10 and its 200 day simple moving average is $48.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a fifty-two week low of $38.27 and a fifty-two week high of $56.19.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. Truist Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. As a group, sell-side analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.