Rhumbline Advisers Increases Stake in Truist Financial Co. (NYSE:TFC)

Rhumbline Advisers lifted its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,554,642 shares of the insurance provider's stock after buying an additional 95,049 shares during the period. Rhumbline Advisers owned approximately 0.20% of Truist Financial worth $105,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Fifth Third Wealth Advisors LLC lifted its position in Truist Financial by 13.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 24,977 shares of the insurance provider's stock valued at $1,028,000 after purchasing an additional 2,873 shares during the period. Beese Fulmer Investment Management Inc. lifted its position in Truist Financial by 1.9% during the first quarter. Beese Fulmer Investment Management Inc. now owns 16,587 shares of the insurance provider's stock valued at $683,000 after purchasing an additional 309 shares during the period. Welch Group LLC lifted its position in Truist Financial by 0.6% during the first quarter. Welch Group LLC now owns 1,254,371 shares of the insurance provider's stock valued at $50,752,000 after purchasing an additional 6,949 shares during the period. Tompkins Financial Corp lifted its position in Truist Financial by 41.6% during the first quarter. Tompkins Financial Corp now owns 7,662 shares of the insurance provider's stock valued at $315,000 after purchasing an additional 2,250 shares during the period. Finally, GAMMA Investing LLC lifted its position in Truist Financial by 4,340.7% during the first quarter. GAMMA Investing LLC now owns 1,156,356 shares of the insurance provider's stock valued at $47,584,000 after purchasing an additional 1,130,316 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.2%

NYSE:TFC traded up $0.08 on Thursday, hitting $39.59. The stock had a trading volume of 8,551,212 shares, compared to its average volume of 8,291,151. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $51.84 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.63 and a beta of 0.84. The company has a fifty day moving average price of $38.43 and a two-hundred day moving average price of $42.71. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period in the previous year, the business posted $0.90 EPS. Equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed 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 was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.25%. Truist Financial's dividend payout ratio is currently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent analyst reports. Barclays cut their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Citigroup cut their price objective 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. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Argus set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

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.