Dakota Wealth Management Has $5.49 Million Holdings in Truist Financial Corporation (NYSE:TFC)

Dakota Wealth Management decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,325 shares of the insurance provider's stock after selling 18,046 shares during the quarter. Dakota Wealth Management's holdings in Truist Financial were worth $5,486,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TFC. Navigoe LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $26,000. Centennial Bank AR grew its position in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after buying an additional 580 shares during the period. Sierra Ocean LLC grew its position in shares of Truist Financial by 64.4% during the 1st 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. Rossby Financial LCC acquired a new stake in shares of Truist Financial during the 1st quarter worth approximately $43,000. Finally, Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TFC. JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods downgraded 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 report on Wednesday, July 9th. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. Stephens lowered their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, 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 target price on the stock. Eight 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.44.

Truist Financial Price Performance

TFC traded up $0.70 on Thursday, hitting $45.06. 11,040,522 shares of the stock were exchanged, compared to its average volume of 8,367,095. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The business has a 50-day moving average of $41.45 and a two-hundred day moving average of $42.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $59.01 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.67 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 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. Sell-side analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.62%. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

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.