Beacon Pointe Advisors LLC Purchases 20,126 Shares of Truist Financial Co. (NYSE:TFC)

Beacon Pointe Advisors LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 134.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,089 shares of the insurance provider's stock after purchasing an additional 20,126 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Truist Financial were worth $1,522,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the 4th quarter worth $45,000. City State Bank boosted its stake in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after buying an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. acquired a new stake in Truist Financial during the 4th quarter worth approximately $55,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TFC. Hsbc Global Res raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Stephens decreased their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Barclays cut their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Trading Down 0.3 %

Shares of TFC stock traded down $0.13 during mid-day trading on Monday, hitting $39.34. The company's stock had a trading volume of 5,954,407 shares, compared to its average volume of 8,163,310. The company has a market cap of $51.52 billion, a PE ratio of 11.81, a P/E/G ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company's fifty day simple moving average is $39.48 and its 200-day simple moving average is $43.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the company earned $0.90 earnings per share. As a group, equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.29%. Truist Financial's dividend payout ratio is currently 61.36%.

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.