Caxton Associates LP decreased its position in Truist Financial Co. (NYSE:TFC - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,144 shares of the insurance provider's stock after selling 10,916 shares during the quarter. Caxton Associates LP's holdings in Truist Financial were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Bangor Savings Bank increased its stake in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. purchased a new stake in Truist Financial in the fourth quarter worth about $26,000. Navigoe LLC bought a new position in shares of Truist Financial during the fourth quarter valued at approximately $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the 4th quarter worth $45,000. Finally, City State Bank lifted its position in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 716 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.
Truist Financial Trading Down 1.7 %
Shares of Truist Financial stock traded down $0.68 during mid-day trading on Friday, hitting $38.88. 7,187,554 shares of the stock were exchanged, compared to its average volume of 8,174,368. The stock has a market capitalization of $50.91 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $38.86 and a 200 day simple moving average of $43.30.
Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.
Truist Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on TFC. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday. Stephens lowered their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Argus set a $43.00 price target on Truist Financial in a report on Monday, April 21st. Finally, Citigroup cut their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $47.83.
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Truist Financial Profile
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Free Report)
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.
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