Kingswood Wealth Advisors LLC raised its position in Truist Financial Corporation (NYSE:TFC – Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,828 shares of the insurance provider’s stock after purchasing an additional 1,238 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Truist Financial were worth $651,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank increased its position in shares of Truist Financial by 3.6% during the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock worth $19,499,000 after acquiring an additional 15,499 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Truist Financial by 81.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock valued at $48,085,000 after buying an additional 498,531 shares during the last quarter. Stifel Financial Corp increased its holdings in Truist Financial by 2.8% in the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider’s stock valued at $97,291,000 after buying an additional 60,848 shares during the last quarter. Glass Wealth Management Co LLC increased its holdings in Truist Financial by 9.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after buying an additional 5,900 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Truist Financial by 97.1% in the fourth quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider’s stock valued at $3,984,000 after buying an additional 45,235 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Up 1.1%
TFC stock opened at $40.25 on Friday. The stock has a market capitalization of $52.71 billion, a P/E ratio of 11.87, a PEG ratio of 1.48 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 Corporation has a one year low of $33.56 and a one year high of $49.06. The company has a 50 day moving average price of $39.09 and a two-hundred day moving average price of $42.15.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analysts’ expectations of $4.99 billion. During the same period in the previous year, the company earned $0.90 EPS. As a group, sell-side analysts expect 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 given a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.17%. Truist Financial’s payout ratio is currently 61.36%.
Wall Street Analyst Weigh In
TFC has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on Truist Financial from $53.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Raymond James Financial downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Stephens reduced their price target on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Wall Street Zen upgraded shares of 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.
Read Our Latest Research Report 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.
Featured Articles
Receive News & Ratings for Truist Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Truist Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
