Sequoia Financial Advisors LLC Acquires 22,001 Shares of Truist Financial Corporation $TFC

Key Points

• Sequoia Financial Advisors LLC increased its Truist Financial stake by 51% in Q4, buying 22,001 additional shares and bringing its total holdings to 65,118 shares worth about $3.2 million.
• Truist Financial reported better-than-expected quarterly results, with EPS of $1.09 versus the $1.00 estimate and revenue of $5.20 billion, up 5% from a year earlier.
• The company declared a quarterly dividend of $0.52 per share, implying an annualized yield of 4.2%, while analysts currently rate the stock a consensus Moderate Buy with a target price of $55.59.

Sequoia Financial Advisors LLC grew its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 51.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,118 shares of the insurance provider's stock after acquiring an additional 22,001 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Truist Financial were worth $3,204,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Gateway Investment Advisers LLC bought a new stake in shares of Truist Financial during the 4th quarter valued at about $304,000. LaFleur & Godfrey LLC boosted its position in shares of Truist Financial by 1.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 119,706 shares of the insurance provider's stock valued at $5,891,000 after acquiring an additional 1,937 shares during the last quarter. Indivisible Partners bought a new stake in shares of Truist Financial during the 4th quarter valued at about $210,000. Swedbank AB boosted its position in shares of Truist Financial by 18.1% during the 4th quarter. Swedbank AB now owns 839,372 shares of the insurance provider's stock valued at $41,305,000 after acquiring an additional 128,748 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Truist Financial by 4.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,692,655 shares of the insurance provider's stock valued at $133,933,000 after acquiring an additional 119,002 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

NYSE:TFC opened at $49.09 on Friday. The business has a 50 day moving average of $48.06 and a 200 day moving average of $48.48. The company has a market capitalization of $61.16 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.84 and a beta of 0.92. Truist Financial Corporation has a 1-year low of $38.27 and a 1-year high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The business's revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial's payout ratio is presently 51.61%.

Analyst Ratings Changes

A number of research firms recently weighed in on TFC. Argus boosted their target price on Truist Financial from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Royal Bank Of Canada boosted their target price on Truist Financial from $51.00 to $53.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Weiss Ratings upgraded Truist Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Morgan Stanley dropped their target price on Truist Financial from $63.00 to $62.00 and set an "overweight" rating for the company in a research report on Monday, April 20th. Finally, Evercore restated an "outperform" rating on shares of Truist Financial in a research report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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