Brookstone Capital Management Increases Stake in Truist Financial Corporation (NYSE:TFC)

Brookstone Capital Management boosted its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,750 shares of the insurance provider's stock after acquiring an additional 10,901 shares during the quarter. Brookstone Capital Management's holdings in Truist Financial were worth $11,800,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TFC. Brighton Jones LLC raised its position in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock valued at $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Fisher Asset Management LLC raised its position in Truist Financial by 5.5% during the fourth quarter. Fisher Asset Management LLC now owns 8,431 shares of the insurance provider's stock valued at $366,000 after acquiring an additional 436 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Truist Financial during the fourth quarter valued at approximately $104,000. Victory Capital Management Inc. raised its position in Truist Financial by 49.9% during the fourth quarter. Victory Capital Management Inc. now owns 651,503 shares of the insurance provider's stock valued at $28,262,000 after acquiring an additional 216,956 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Truist Financial by 97.1% in the fourth quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider's stock valued at $3,984,000 after buying an additional 45,235 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TFC. TD Cowen began coverage on Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Wells Fargo & Company cut their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Barclays cut their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.44.

Truist Financial Stock Up 0.4%

Shares of TFC opened at $45.23 on Friday. 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 one year low of $33.56 and a one year high of $49.06. The stock has a market capitalization of $59.23 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.69 and a beta of 0.85. The stock has a 50 day moving average price of $40.44 and a 200 day moving average price of $41.95.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period in the previous year, the business earned $0.90 earnings per share. Equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

Truist Financial Company Profile

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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