ICA Group Wealth Management LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,304 shares of the insurance provider’s stock, valued at approximately $233,000.
Several other institutional investors have also made changes to their positions in TFC. Operose Advisors LLC bought a new stake in Truist Financial in the third quarter worth approximately $31,000. Missouri Trust & Investment Co raised its holdings in 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 buying an additional 593 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of Truist Financial in the third quarter worth about $33,000. Morton Brown Family Wealth LLC boosted its stake in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $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 4th quarter valued at about $34,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.
Truist Financial Stock Performance
Shares of TFC stock opened at $35.34 on Monday. The firm has a fifty day moving average of $37.88 and a 200-day moving average of $36.93. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. 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 (NYSE:TFC – Get Free Report) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.09 earnings per share. On average, equities research analysts forecast that Truist Financial Co. will post 3.36 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.89%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio is -157.58%.
Analyst Upgrades and Downgrades
TFC has been the subject of a number of recent analyst reports. UBS Group upped their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Piper Sandler raised their target price on shares of Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, HSBC increased their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.17.
Check Out Our Latest Stock Analysis on TFC
Truist Financial Company 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
