Country Club Bank Grows Holdings in Truist Financial Corporation (NYSE:TFC)

Country Club Bank grew its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 155.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,111 shares of the insurance provider's stock after buying an additional 70,612 shares during the quarter. Country Club Bank's holdings in Truist Financial were worth $4,698,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. Centennial Bank AR boosted its holdings in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after buying an additional 580 shares in the last quarter. Sierra Ocean LLC grew its position in 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 buying an additional 352 shares during the period. Finally, Rossby Financial LCC purchased a new position in Truist Financial in the first quarter valued at about $43,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Trading Up 0.8%

NYSE TFC opened at $45.54 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 company's 50 day moving average price is $40.98 and its 200 day moving average price is $42.01. The firm has a market capitalization of $59.63 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.68 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate 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 quarter in the previous year, the business posted $0.90 EPS. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.57%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TFC shares. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Barclays reduced their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. 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. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial 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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