Wedmont Private Capital raised its position in Truist Financial Co. (NYSE:TFC – Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,573 shares of the insurance provider’s stock after acquiring an additional 525 shares during the quarter. Wedmont Private Capital’s holdings in Truist Financial were worth $256,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Operose Advisors LLC bought a new stake in shares of Truist Financial during the 3rd quarter valued at about $31,000. Missouri Trust & Investment Co boosted its stake in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter valued at about $32,000. Tyler Stone Wealth Management bought a new stake in shares of Truist Financial during the 3rd quarter valued at about $33,000. Finally, 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 valued at $34,000 after purchasing an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Performance
Shares of NYSE TFC opened at $36.79 on Friday. The firm’s 50 day moving average price is $37.74 and its 200-day moving average price is $37.02. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data 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 negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.65%. Truist Financial’s payout ratio is -157.58%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on TFC shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI reissued an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a research note on Thursday, May 9th. Keefe, Bruyette & Woods boosted 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. Finally, Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.
Get Our Latest Research Report 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.
See Also
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Source: defenseworld.net
