UMB Bank n.a. lowered its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 77.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,208 shares of the insurance provider's stock after selling 133,064 shares during the quarter. UMB Bank n.a.'s holdings in Truist Financial were worth $1,572,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TFC. Gateway Investment Advisers LLC bought a new stake in shares of Truist Financial during the first quarter valued at approximately $205,000. SeaCrest Wealth Management LLC raised its position in Truist Financial by 2.2% during the 1st quarter. SeaCrest Wealth Management LLC now owns 48,231 shares of the insurance provider's stock valued at $1,985,000 after purchasing an additional 1,057 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of Truist Financial by 50.4% in the 1st quarter. Procyon Advisors LLC now owns 24,473 shares of the insurance provider's stock worth $917,000 after buying an additional 8,204 shares during the period. Avity Investment Management Inc. lifted its holdings in shares of Truist Financial by 3.0% in the 1st quarter. Avity Investment Management Inc. now owns 289,106 shares of the insurance provider's stock worth $11,897,000 after buying an additional 8,463 shares during the period. Finally, Curat Global LLC bought a new position in shares of Truist Financial during the 1st quarter worth $101,000. Hedge funds and other institutional investors own 71.28% of the company's stock.
Truist Financial Stock Performance
NYSE TFC traded down $0.45 during mid-day trading on Wednesday, reaching $40.29. 7,279,820 shares of the stock were exchanged, compared to its average volume of 8,294,364. The company has a market capitalization of $52.75 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The business's 50 day moving average is $38.48 and its 200-day moving average is $42.55. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.
Truist Financial Announces Dividend
The business also recently announced 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 annualized dividend and a dividend yield of 5.16%. Truist Financial's dividend payout ratio (DPR) is 61.36%.
Analyst Upgrades and Downgrades
TFC has been the subject of a number of research reports. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their price target on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Piper Sandler lowered their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Argus set a $43.00 target price on Truist Financial in a research report on Monday, April 21st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.83.
Read Our Latest Stock Analysis on Truist Financial
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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