Centiva Capital LP lessened its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 63.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,017 shares of the insurance provider's stock after selling 13,717 shares during the quarter. Centiva Capital LP's holdings in Truist Financial were worth $348,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of TFC. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter worth approximately $26,000. Navigoe LLC bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in Truist Financial in the fourth quarter worth about $45,000. City State Bank boosted its stake in Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after acquiring an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth about $55,000. 71.28% of the stock is owned by institutional investors and hedge funds.
Truist Financial Stock Down 0.2%
NYSE:TFC traded down $0.09 on Thursday, hitting $41.14. 6,262,376 shares of the company's stock traded hands, compared to its average volume of 8,184,674. The firm has a 50-day moving average price of $38.78 and a 200-day moving average price of $43.26. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a market cap of $53.87 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $4.99 billion. During the same quarter last year, the company posted $0.90 earnings per share. Equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.06%. Truist Financial's payout ratio is 61.36%.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Piper Sandler dropped their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company lowered their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Citigroup lowered their target price on Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, March 24th. StockNews.com upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Stephens reduced their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.83.
Check Out Our Latest Report on Truist Financial
About Truist Financial
(
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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