Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 38,820 shares of the insurance provider's stock, valued at approximately $1,597,000.
Several other hedge funds also recently made changes to their positions in TFC. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter worth approximately $26,000. Navigoe LLC bought a new position in shares of Truist Financial during the 4th quarter worth approximately $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the 4th quarter worth approximately $45,000. TCTC Holdings LLC grew its stake in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after acquiring an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. bought a new position in shares of Truist Financial during the 4th quarter worth approximately $57,000. 71.28% of the stock is owned by institutional investors.
Truist Financial Trading Up 1.1%
Shares of Truist Financial stock opened at $40.25 on Monday. The business has a fifty day simple moving average of $39.09 and a two-hundred day simple moving average of $42.09. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a market capitalization of $52.71 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.49 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm posted $0.90 EPS. Research analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.
Truist Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on TFC shares. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Stephens cut their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Raymond James Financial downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. 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 report on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and an average target price of $47.83.
View Our Latest Stock Analysis on Truist Financial
About Truist Financial
(
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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