Rothschild Investment LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 95.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,666 shares of the insurance provider's stock after selling 239,899 shares during the quarter. Rothschild Investment LLC's holdings in Truist Financial were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in TFC. LaFleur & Godfrey LLC grew its stake in Truist Financial by 4.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider's stock worth $4,692,000 after purchasing an additional 4,670 shares during the period. Brighton Jones LLC grew its stake in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after purchasing an additional 14,093 shares during the period. Exchange Traded Concepts LLC grew its stake in Truist Financial by 18.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,371 shares of the insurance provider's stock worth $103,000 after purchasing an additional 364 shares during the period. Perigon Wealth Management LLC grew its stake in Truist Financial by 18.1% during the fourth quarter. Perigon Wealth Management LLC now owns 10,836 shares of the insurance provider's stock worth $487,000 after purchasing an additional 1,661 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in Truist Financial during the fourth quarter worth approximately $314,000. 71.28% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Raymond James cut Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. decreased their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Piper Sandler reduced their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Morgan Stanley reduced 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. Finally, Argus set a $43.00 price objective on Truist Financial in a research note on Monday, April 21st. Nine equities research 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.
Get Our Latest Research Report on Truist Financial
Truist Financial Stock Performance
TFC stock traded up $0.08 during midday trading on Thursday, hitting $39.59. The company's stock had a trading volume of 8,551,212 shares, compared to its average volume of 8,291,151. The stock's 50-day moving average price is $38.43 and its 200 day moving average price is $42.71. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. 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.
Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations 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 previous year, the firm earned $0.90 earnings per share. On average, equities analysts forecast that Truist Financial Co. 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. Shareholders of record on Friday, May 9th were paid 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 payout ratio is presently 61.36%.
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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