BHK Investment Advisors LLC Has $909,000 Stock Holdings in Truist Financial Corporation (NYSE:TFC)

BHK Investment Advisors LLC trimmed its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 24.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 22,087 shares of the insurance provider's stock after selling 7,280 shares during the quarter. Truist Financial comprises about 0.4% of BHK Investment Advisors LLC's portfolio, making the stock its 27th biggest holding. BHK Investment Advisors LLC's holdings in Truist Financial were worth $909,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TFC. Comerica Bank lifted its stake in Truist Financial by 3.6% during the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock worth $19,499,000 after purchasing an additional 15,499 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Truist Financial by 81.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after buying an additional 498,531 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Truist Financial by 4.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock worth $17,927,000 after buying an additional 19,286 shares during the last quarter. Stifel Financial Corp boosted its stake in Truist Financial by 2.8% in the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock valued at $97,291,000 after buying an additional 60,848 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in Truist Financial by 55.1% in the first quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider's stock valued at $5,530,000 after buying an additional 47,717 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of several research analyst reports. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Piper Sandler lowered their price objective 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. Keefe, Bruyette & Woods lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Tuesday, July 8th. Finally, Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $48.44.

Truist Financial Stock Performance

NYSE:TFC opened at $45.46 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a 50 day simple moving average of $41.10 and a two-hundred day simple moving average of $41.99. The company has a market capitalization of $59.53 billion, a PE ratio of 13.41, a P/E/G ratio of 1.69 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the firm posted $0.90 EPS. Research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.58%. Truist Financial's payout ratio is currently 61.36%.

About Truist Financial

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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