Truist Financial Corp Has $188.62 Million Holdings in Truist Financial Corporation (NYSE:TFC)

Truist Financial Corp lifted its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,583,686 shares of the insurance provider's stock after acquiring an additional 24,277 shares during the quarter. Truist Financial Corp owned about 0.35% of Truist Financial worth $188,619,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new position in shares of Truist Financial during the fourth quarter valued at approximately $26,000. Rossby Financial LCC acquired a new position in shares of Truist Financial during the first quarter valued at approximately $43,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the fourth quarter valued at approximately $45,000. Finally, TCTC Holdings LLC boosted its holdings in Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after buying an additional 287 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Stock Down 1.0%

Shares of NYSE:TFC traded down $0.46 during trading on Monday, reaching $45.09. 4,120,783 shares of the company traded hands, compared to its average volume of 8,752,828. The firm has a fifty day simple moving average of $40.44 and a 200 day simple moving average of $41.94. The firm has a market cap of $59.04 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.87. The company had revenue of $4.95 billion during 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 8.96%. During the same quarter last year, the business posted $0.90 EPS. Analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several recent research reports. Stephens decreased their price target on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Barclays decreased their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Argus set a $43.00 price target on shares of Truist Financial in a research report on Monday, April 21st. Finally, Wells Fargo & Company decreased their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and an average price target of $48.44.

Truist Financial Company 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.