Lantz Financial LLC bought a new position in Truist Financial Co. (NYSE:TFC – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,659 shares of the insurance provider’s stock, valued at approximately $221,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Truist Financial during the fourth quarter worth about $307,787,000. Parnassus Investments LLC purchased a new position in Truist Financial in the 4th quarter valued at approximately $95,049,000. North Reef Capital Management LP bought a new stake in Truist Financial during the 3rd quarter valued at $66,804,000. Azora Capital LP bought a new position in shares of Truist Financial in the fourth quarter worth $72,498,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after buying an additional 1,458,248 shares during the period. Institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Up 0.4 %
Shares of NYSE TFC opened at $36.79 on Friday. The firm has a fifty day simple moving average of $37.74 and a two-hundred day simple moving average of $37.00. 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 12 month low of $26.57 and a 12 month high of $40.51.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company 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 company posted $1.09 earnings per share. The firm’s revenue was down 8.8% on a year-over-year basis. Equities research analysts expect that Truist Financial Co. will post 3.36 EPS for the current year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.65%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.
Analysts Set New Price Targets
A number of research analysts have recently commented on TFC shares. HSBC boosted their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their target price on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a report on Thursday, May 9th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.
Get 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.
Further Reading
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Source: defenseworld.net
