Wealth Enhancement Advisory Services LLC reduced its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 16.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 709,902 shares of the insurance provider's stock after selling 143,111 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.05% of Truist Financial worth $29,212,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Navigoe LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at $45,000. TCTC Holdings LLC increased 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 period. Finally, Pinney & Scofield Inc. purchased a new position in shares of Truist Financial in the 4th quarter valued at $57,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.
Truist Financial Price Performance
NYSE TFC traded up $0.44 during trading hours on Friday, reaching $40.25. The company's stock had a trading volume of 10,237,762 shares, compared to its average volume of 8,288,955. The firm has a market capitalization of $52.71 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.48 and a beta of 0.84. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The company's 50-day moving average is $39.09 and its two-hundred day moving average is $42.15.
Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $0.90 EPS. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current year.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.17%. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on TFC shares. Barclays cut their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Argus set a $43.00 price objective on Truist Financial in a research report on Monday, April 21st. Citigroup lowered their price objective on 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, Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.
Check Out Our Latest Analysis 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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