Procyon Advisors LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 50.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,473 shares of the insurance provider's stock after purchasing an additional 8,204 shares during the quarter. Procyon Advisors LLC's holdings in Truist Financial were worth $917,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new position in Truist Financial during the fourth quarter worth $26,000. Navigoe LLC acquired a new position in Truist Financial in the fourth quarter worth about $26,000. Curio Wealth LLC bought a new position in Truist Financial during the fourth quarter worth about $45,000. TCTC Holdings LLC boosted its stake in 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 buying 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 worth about $57,000. Institutional investors and hedge funds own 71.28% of the company's stock.
Truist Financial Stock Performance
TFC traded down $0.48 on Wednesday, reaching $40.25. The company had a trading volume of 4,830,723 shares, compared to its average volume of 8,279,757. The stock has a market cap of $52.71 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company's fifty day moving average is $38.48 and its 200 day moving average is $42.55.
Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
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%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on TFC. TD Cowen began coverage on Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price for the company. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup reduced their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Argus set a $43.00 price objective on Truist Financial in a report on Monday, April 21st. Nine 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. According to MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and an average price target of $47.83.
Get Our Latest Report on Truist Financial
Truist Financial Company Profile
(
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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