Chancellor Financial Group WB LP purchased a new position in shares of Truist Financial Co. (NYSE:TFC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,577 shares of the insurance provider's stock, valued at approximately $329,000.
Several other hedge funds have also recently modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new stake in Truist Financial in the 4th quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at approximately $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $45,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Truist Financial in the 4th quarter worth approximately $55,000. Finally, TCTC Holdings LLC increased its stake in Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after purchasing an additional 287 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Truist Financial Stock Down 0.4%
NYSE:TFC traded down $0.16 during mid-day trading on Friday, hitting $39.44. The company had a trading volume of 10,480,959 shares, compared to its average volume of 8,279,124. The business has a fifty day simple moving average of $38.58 and a 200-day simple moving average of $42.86. The firm has a market capitalization of $51.65 billion, a price-to-earnings ratio of 11.84, a PEG 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 Co. has a 1 year low of $33.56 and a 1 year high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period last year, the business posted $0.90 earnings per share. Equities analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on TFC shares. Argus set a $43.00 price objective on shares of Truist Financial in a research note on Monday, April 21st. Stephens lowered their price target on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup lowered their target price on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $47.83.
Get Our Latest Stock Analysis on Truist Financial
Truist Financial Profile
(
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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