Lecap Asset Management Ltd. lessened its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 70.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,416 shares of the insurance provider's stock after selling 20,496 shares during the period. Lecap Asset Management Ltd.'s holdings in Truist Financial were worth $346,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter worth $26,000. Navigoe LLC bought a new position in Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the 4th quarter valued at about $45,000. TCTC Holdings LLC raised 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 valued at $57,000 after purchasing an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 71.28% of the company's stock.
Analyst Ratings Changes
TFC has been the topic of several research reports. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Raymond James Financial downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Morgan Stanley decreased their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. TD Cowen assumed coverage on Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of "Moderate Buy" and a consensus target price of $48.44.
Check Out Our Latest Stock Analysis on TFC
Truist Financial Stock Performance
Shares of TFC stock opened at $42.57 on Friday. The business has a fifty day moving average of $39.54 and a 200 day moving average of $42.01. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. 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 $55.75 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.
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 for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.
Truist Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's payout ratio is 61.36%.
Truist Financial Profile
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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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