V Square Quantitative Management LLC lifted its holdings in Truist Financial Co. (NYSE:TFC – Free Report) by 35.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,632 shares of the insurance provider’s stock after buying an additional 5,877 shares during the quarter. V Square Quantitative Management LLC’s holdings in Truist Financial were worth $836,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of TFC. Valmark Advisers Inc. boosted its position in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 277 shares in the last quarter. St. Johns Investment Management Company LLC boosted its position in Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after purchasing an additional 296 shares in the last quarter. Mechanics Financial Corp boosted its position in Truist Financial by 7.4% during the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 300 shares in the last quarter. Day & Ennis LLC boosted its position in Truist Financial by 4.3% during the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 311 shares in the last quarter. Finally, Carson Advisory Inc. boosted its position in Truist Financial by 1.5% during the fourth quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after purchasing an additional 315 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.
Truist Financial Price Performance
TFC stock opened at $35.41 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51. The firm has a market cap of $47.38 billion, a P/E ratio of -26.83, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06. The stock has a 50-day simple moving average of $37.88 and a 200-day simple moving average of $36.86.
Truist Financial (NYSE:TFC – Get Free Report) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion during 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 company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. On average, equities analysts predict that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.
Analysts Set New Price Targets
A number of analysts have commented on TFC shares. Stephens boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a research report on Thursday, May 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $43.17.
View Our Latest Analysis on TFC
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
