Truist Financial Corporation (NYSE:TFC) Position Boosted by Truist Financial Corp

Truist Financial Corp boosted its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,583,686 shares of the insurance provider's stock after acquiring an additional 24,277 shares during the period. Truist Financial Corp owned 0.35% of Truist Financial worth $188,619,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the fourth quarter valued at $26,000. Navigoe LLC acquired a new stake in Truist Financial in the fourth quarter valued at $26,000. Curio Wealth LLC acquired a new stake in Truist Financial in the fourth quarter valued at $45,000. Rossby Financial LCC acquired a new stake in Truist Financial in the first quarter valued at $43,000. Finally, TCTC Holdings LLC raised its holdings in Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after acquiring an additional 287 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the topic of several recent analyst reports. Barclays cut 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 report on Monday, April 21st. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. TD Cowen assumed coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Raymond James Financial cut shares of Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of "Moderate Buy" and a consensus target price of $48.44.

Truist Financial Stock Performance

Shares of Truist Financial stock traded down $0.36 during trading on Monday, hitting $45.18. 7,072,972 shares of the stock were exchanged, compared to its average volume of 8,271,157. The stock's fifty day moving average is $40.57 and its 200 day moving average is $41.95. The stock has a market cap of $59.17 billion, a PE ratio of 13.33, a P/E/G ratio of 1.69 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last announced 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 firm 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 in the prior year, the firm posted $0.90 EPS. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. Truist Financial's dividend payout ratio is presently 61.36%.

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.