LaFleur & Godfrey LLC raised its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 19.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,370 shares of the insurance provider's stock after buying an additional 21,202 shares during the period. LaFleur & Godfrey LLC's holdings in Truist Financial were worth $5,324,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new position in Truist Financial in the fourth quarter valued at $26,000. Navigoe LLC purchased a new position in shares of Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the 4th quarter valued at about $45,000. TCTC Holdings LLC increased its position 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 purchasing an additional 287 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in shares of Truist Financial during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 71.28% of the company's stock.
Truist Financial Trading Up 0.0%
Shares of Truist Financial stock traded up $0.01 during midday trading on Wednesday, reaching $41.46. 6,151,739 shares of the company's stock traded hands, compared to its average volume of 8,279,691. The stock has a 50 day moving average of $39.29 and a 200-day moving average of $42.04. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market cap of $54.29 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84. 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 (NYSE:TFC - Get Free Report) last issued 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. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm earned $0.90 EPS. As a group, equities analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.
Truist Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Friday, May 9th. Truist Financial's payout ratio is currently 61.36%.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Stephens reduced 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. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Piper Sandler decreased their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Citigroup cut their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Raymond James Financial downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and a consensus target price of $47.83.
Check Out Our Latest Research 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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