Truist Financial Corporation (NYSE:TFC) Shares Bought by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 435,650 shares of the insurance provider's stock after acquiring an additional 19,286 shares during the period. Truist Financial makes up approximately 1.3% of Cantor Fitzgerald Investment Advisors L.P.'s investment portfolio, making the stock its 20th largest holding. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Truist Financial were worth $17,927,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new position in Truist Financial in the 4th quarter worth $26,000. Navigoe LLC acquired a new stake in Truist Financial during the 4th quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in Truist Financial during the 4th quarter valued at approximately $45,000. TCTC Holdings LLC boosted its holdings in shares of Truist Financial by 28.1% in 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, Pinney & Scofield Inc. acquired a new stake in shares of Truist Financial in the fourth quarter worth $57,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Trading Up 1.9%

Shares of TFC opened at $39.78 on Friday. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The stock has a market cap of $52.10 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.48 and a beta of 0.84. The firm's fifty day moving average is $39.00 and its two-hundred day moving average is $42.20. 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 EPS for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. Research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TFC. Wells Fargo & Company decreased their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Citigroup lowered their target price on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Barclays decreased their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Stephens dropped 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. Finally, TD Cowen started coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.83.

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.

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