New Hampshire Trust trimmed its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 20.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,764 shares of the insurance provider’s stock after selling 2,197 shares during the period. New Hampshire Trust’s holdings in Truist Financial were worth $342,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after acquiring an additional 1,458,248 shares during the period. Royal Bank of Canada grew its position in shares of Truist Financial by 5.0% in the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares during the period. Morgan Stanley grew its position in shares of Truist Financial by 0.3% in the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Truist Financial by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after acquiring an additional 883,416 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.
Truist Financial Trading Up 0.2 %
TFC opened at $36.63 on Friday. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $40.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $49.01 billion, a price-to-earnings ratio of -27.75, a PEG ratio of 1.81 and a beta of 1.06. The company’s 50 day moving average price is $37.74 and its two-hundred day moving average price is $36.97.
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 for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, research analysts predict that Truist Financial Co. will post 3.36 earnings per share for the current year.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on TFC. Evercore ISI reissued an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a research report on Thursday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $43.17.
View Our Latest Stock Report on Truist Financial
About Truist Financial
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
