Biltmore Family Office LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,880 shares of the insurance provider’s stock after selling 1,801 shares during the quarter. Biltmore Family Office LLC’s holdings in Truist Financial were worth $254,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the third quarter valued at about $31,000. Missouri Trust & Investment Co increased its holdings in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares in the last quarter. Tyler Stone Wealth Management acquired a new position in shares of Truist Financial during the third quarter valued at about $33,000. Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new position in shares of Truist Financial during the fourth quarter valued at about $34,000. 71.28% of the stock is owned by hedge funds and other institutional investors.
Truist Financial Trading Up 3.2 %
Shares of TFC stock opened at $36.81 on Thursday. The stock’s fifty day moving average is $37.97 and its two-hundred day moving average is $36.83. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $49.26 billion, a P/E ratio of -27.89, a PEG ratio of 1.78 and a beta of 1.06. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $40.51.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. Research analysts expect that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.65%. Truist Financial’s dividend payout ratio is presently -157.58%.
Analyst Upgrades and Downgrades
TFC has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, HSBC increased their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $43.17.
Get Our Latest Research Report on Truist Financial
Truist Financial Profile
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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Source: defenseworld.net
