KMG Fiduciary Partners LLC Boosts Stock Position in Truist Financial Co. (NYSE:TFC)

KMG Fiduciary Partners LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 21.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,639 shares of the insurance provider's stock after acquiring an additional 8,254 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Truist Financial were worth $1,960,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in Truist Financial during the 4th quarter valued at $26,000. Navigoe LLC purchased a new position in Truist Financial during the 4th quarter valued at $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the 4th quarter valued at $45,000. TCTC Holdings LLC lifted its holdings in shares of Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after buying an additional 287 shares during the period. Finally, Pinney & Scofield Inc. purchased a new stake in shares of Truist Financial in the 4th quarter worth $57,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TFC shares. Morgan Stanley lowered their target price on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Wells Fargo & Company lowered their target price on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Stephens lowered their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Barclays lowered their target price on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Trading Up 2.6%

Shares of NYSE TFC opened at $40.66 on Monday. The business has a fifty day moving average price of $38.43 and a 200 day moving average price of $42.62. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The stock has a market capitalization of $53.25 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last announced its 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 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $0.90 EPS. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced 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 5.12%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio 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.

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