Adapt Wealth Advisors LLC boosted its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 78.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,456 shares of the insurance provider's stock after purchasing an additional 9,021 shares during the period. Adapt Wealth Advisors LLC's holdings in Truist Financial were worth $842,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of TFC. Hopwood Financial Services Inc. bought a new position in Truist Financial in the 4th quarter worth $26,000. Navigoe LLC purchased a new position in shares of Truist Financial in the fourth quarter valued at about $26,000. Centennial Bank AR boosted its stake in shares of Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after acquiring an additional 580 shares during the period. Sierra Ocean LLC grew its position in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after purchasing an additional 352 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in Truist Financial during the 1st quarter valued at approximately $43,000. Institutional investors own 71.28% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on TFC shares. JPMorgan Chase & Co. dropped 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. Piper Sandler dropped their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Stephens reduced their price target on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. TD Cowen assumed coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target on the stock. Finally, Morgan Stanley cut their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Truist Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.44.
Get Our Latest Stock Analysis on Truist Financial
Truist Financial Trading Up 0.8%
TFC stock traded up $0.38 during mid-day trading on Thursday, reaching $45.54. 6,821,768 shares of the stock traded hands, compared to its average volume of 8,319,807. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The stock has a market capitalization of $59.63 billion, a PE ratio of 13.43, a PEG ratio of 1.68 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The business has a 50-day moving average price of $40.84 and a two-hundred day moving average price of $42.00.
Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS 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 8.96%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company posted $0.90 earnings per share. Equities research analysts expect that Truist Financial Corporation will post 4 EPS for the current year.
Truist Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is 61.36%.
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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