Cornerstone Wealth Group LLC boosted its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 137,654 shares of the insurance provider's stock after acquiring an additional 11,591 shares during the period. Cornerstone Wealth Group LLC's holdings in Truist Financial were worth $5,664,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. FWG Holdings LLC lifted its holdings in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after purchasing an additional 234 shares in the last quarter. Nwam LLC raised its position in Truist Financial by 3.2% in the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock worth $364,000 after buying an additional 263 shares during the last quarter. TIAA Trust National Association lifted its stake in Truist Financial by 1.2% during the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after acquiring an additional 283 shares during the period. TCTC Holdings LLC boosted its holdings in shares of Truist Financial by 28.1% during the 4th 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 during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Truist Financial by 1.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock worth $1,231,000 after acquiring an additional 288 shares during the period. 71.28% of the stock is currently owned by institutional investors.
Truist Financial Stock Up 1.1%
Shares of TFC stock traded up $0.45 on Tuesday, hitting $41.50. The stock had a trading volume of 8,848,614 shares, compared to its average volume of 8,281,583. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The business has a 50 day moving average price of $39.19 and a 200 day moving average price of $42.05. The company has a market cap of $54.34 billion, a PE ratio of 12.24, a P/E/G ratio of 1.49 and a beta of 0.84. 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 released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period last year, the firm earned $0.90 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 dividend yield of 5.01%. Truist Financial's payout ratio is 61.36%.
Analyst Ratings Changes
A number of research firms have commented on TFC. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Stephens lowered their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Nine investment 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.83.
Read Our Latest Report on TFC
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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