Cyndeo Wealth Partners LLC Raises Position in Truist Financial Co. (NYSE:TFC)

Cyndeo Wealth Partners LLC raised its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 182,154 shares of the insurance provider's stock after buying an additional 10,559 shares during the period. Cyndeo Wealth Partners LLC's holdings in Truist Financial were worth $7,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. LaFleur & Godfrey LLC lifted its stake in shares of Truist Financial by 4.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider's stock valued at $4,692,000 after purchasing an additional 4,670 shares during the period. Brighton Jones LLC increased its holdings in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Truist Financial by 1.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 517,214 shares of the insurance provider's stock valued at $22,587,000 after buying an additional 7,775 shares during the period. Blue Trust Inc. boosted its holdings in shares of Truist Financial by 10.6% during the 4th quarter. Blue Trust Inc. now owns 38,283 shares of the insurance provider's stock worth $1,661,000 after buying an additional 3,659 shares in the last quarter. Finally, Congress Asset Management Co. acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $1,387,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Stock Performance

Truist Financial stock traded up $0.40 during trading on Monday, hitting $39.37. The stock had a trading volume of 6,628,238 shares, compared to its average volume of 8,276,659. The stock's 50 day moving average is $38.77 and its two-hundred day moving average is $42.34. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The stock has a market cap of $51.56 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

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, meeting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the business posted $0.90 EPS. As a group, analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. Citigroup cut their target price on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Barclays cut their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Stephens decreased their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. TD Cowen assumed coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective on the stock. Finally, Wells Fargo & Company decreased their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

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.