Raleigh Capital Management Inc. lessened its holdings in Truist Financial Co. (NYSE:TFC – Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,272 shares of the insurance provider’s stock after selling 1,686 shares during the period. Raleigh Capital Management Inc.’s holdings in Truist Financial were worth $1,524,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC increased its holdings in shares of Truist Financial by 35.1% during the 4th quarter. V Square Quantitative Management LLC now owns 22,632 shares of the insurance provider’s stock valued at $836,000 after acquiring an additional 5,877 shares during the last quarter. Sunpointe LLC acquired a new position in Truist Financial during the fourth quarter valued at approximately $249,000. Taylor Financial Group Inc. acquired a new position in Truist Financial during the fourth quarter valued at approximately $1,174,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Truist Financial by 19.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,431,062 shares of the insurance provider’s stock worth $126,676,000 after buying an additional 558,363 shares during the last quarter. Finally, Peloton Wealth Strategists boosted its holdings in shares of Truist Financial by 5.0% during the 4th quarter. Peloton Wealth Strategists now owns 65,300 shares of the insurance provider’s stock worth $2,411,000 after buying an additional 3,100 shares during the period. 71.28% of the stock is currently owned by institutional investors.
Truist Financial Trading Down 2.6 %
Shares of NYSE:TFC opened at $35.41 on Friday. The company’s fifty day moving average is $37.88 and its 200-day moving average is $36.89. 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 52 week low of $26.57 and a 52 week high of $40.51.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, equities analysts forecast that Truist Financial Co. will post 3.36 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.87%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.
Wall Street Analyst Weigh In
Several brokerages recently commented on TFC. UBS Group lifted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. JPMorgan Chase & Co. increased 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. Wells Fargo & Company boosted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group raised their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average price target of $43.17.
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
