Alps Advisors Inc. lowered its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 502,788 shares of the insurance provider's stock after selling 39,948 shares during the period. Alps Advisors Inc.'s holdings in Truist Financial were worth $24,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of TFC. Wellington Management Group LLP raised its position in shares of Truist Financial by 13,511.7% during the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider's stock valued at $474,886,000 after buying an additional 10,310,523 shares during the last quarter. Norges Bank bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $502,340,000. American Assets Investment Management LLC raised its position in shares of Truist Financial by 781.3% during the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider's stock valued at $166,527,000 after buying an additional 3,000,000 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Truist Financial by 37.6% during the fourth quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider's stock valued at $516,732,000 after buying an additional 2,867,449 shares during the last quarter. Finally, Azora Capital LP bought a new stake in shares of Truist Financial during the third quarter valued at approximately $115,417,000. Institutional investors own 71.28% of the company's stock.
Truist Financial Stock Performance
Shares of NYSE:TFC opened at $50.72 on Friday. Truist Financial Corporation has a 52 week low of $38.83 and a 52 week high of $56.19. The stock has a market capitalization of $63.20 billion, a P/E ratio of 12.59, a PEG ratio of 0.85 and a beta of 0.89. The firm has a fifty day simple moving average of $49.00 and a two-hundred day simple moving average of $49.14. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.18 billion. During the same period last year, the company posted $0.87 EPS. The business's revenue was up 5.0% on a year-over-year basis. On average, analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial's payout ratio is 51.61%.
Analyst Ratings Changes
TFC has been the topic of several recent analyst reports. Robert W. Baird cut shares of Truist Financial from an "outperform" rating to a "neutral" rating and set a $55.00 price objective on the stock. in a research report on Friday, May 1st. Morgan Stanley decreased their price target on shares of Truist Financial from $63.00 to $62.00 and set an "overweight" rating on the stock in a research note on Monday, April 20th. JPMorgan Chase & Co. lowered their price objective on shares of Truist Financial from $57.00 to $51.50 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Finally, Royal Bank Of Canada lifted their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of "Moderate Buy" and a consensus target price of $55.59.
Check Out Our Latest Report on TFC
Truist Financial Company Profile
(
Free Report)
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.
Further Reading
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