CWA Asset Management Group LLC raised its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 18.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,203 shares of the insurance provider's stock after purchasing an additional 9,203 shares during the quarter. CWA Asset Management Group LLC's holdings in Truist Financial were worth $2,395,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter valued at approximately $26,000. Navigoe LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the 4th quarter valued at $45,000. TCTC Holdings LLC increased its holdings in 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 purchasing an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in Truist Financial in the 4th quarter valued at $57,000. 71.28% of the stock is owned by institutional investors and hedge funds.
Truist Financial Stock Up 1.9%
Shares of Truist Financial stock opened at $39.78 on Thursday. The business has a 50-day moving average price of $38.91 and a 200 day moving average price of $42.24. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a market cap of $52.10 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.45 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 issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate 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 return on equity of 8.96% and a net margin of 15.59%. During the same quarter last year, the firm earned $0.90 EPS. On average, sell-side analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.23%. Truist Financial's dividend payout ratio (DPR) is 61.36%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on TFC shares. Raymond James Financial downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. TD Cowen began coverage on Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target on the stock. Piper Sandler lowered their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Argus set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.
Read Our Latest Research Report on Truist Financial
Truist Financial Profile
(
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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