Fulton Bank N.A. increased its position in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 18.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,822 shares of the insurance provider’s stock after acquiring an additional 10,322 shares during the period. Fulton Bank N.A.’s holdings in Truist Financial were worth $2,279,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in shares of Truist Financial in the first quarter worth $25,000. Elequin Securities LLC bought a new position in Truist Financial in the 4th quarter worth about $26,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the 4th quarter valued at about $28,000. J.Safra Asset Management Corp bought a new stake in shares of Truist Financial during the 4th quarter valued at about $29,000. Finally, AXS Investments LLC purchased a new position in shares of Truist Financial during the fourth quarter worth about $31,000. 72.49% of the stock is owned by institutional investors.
Analyst Ratings Changes
TFC has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Truist Financial from $48.00 to $46.00 in a research report on Friday, June 9th. Wells Fargo & Company reduced their target price on Truist Financial from $57.00 to $54.00 and set an “overweight” rating on the stock in a research note on Monday, April 3rd. Barclays lowered their price target on Truist Financial from $57.00 to $44.00 in a research report on Wednesday, April 12th. Credit Suisse Group cut their price objective on Truist Financial from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, April 21st. Finally, Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 price objective on the stock in a report on Monday, March 13th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.22.
Truist Financial Trading Down 1.0 %
Shares of NYSE TFC traded down $0.32 during mid-day trading on Friday, hitting $31.90. The stock had a trading volume of 21,751,406 shares, compared to its average volume of 11,509,534. The firm has a market cap of $42.49 billion, a P/E ratio of 7.10, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.86 and a current ratio of 0.87. The business has a 50 day moving average price of $31.02 and a two-hundred day moving average price of $38.76. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $53.34.
Truist Financial (NYSE:TFC – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The insurance provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.09 billion. Truist Financial had a net margin of 22.81% and a return on equity of 12.37%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. On average, equities analysts anticipate that Truist Financial Co. will post 4.26 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.52%. Truist Financial’s dividend payout ratio is currently 46.33%.
Insider Activity
In related news, Director Charles A. Patton purchased 3,668 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were acquired at an average price of $19.00 per share, for a total transaction of $69,692.00. Following the completion of the acquisition, the director now directly owns 3,668 shares in the company, valued at approximately $69,692. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.31% of the company’s stock.
About Truist Financial
Truist Financial Corporation, a holding 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.
See Also
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