Quest Partners LLC acquired a new stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 12,324 shares of the insurance provider’s stock, valued at approximately $455,000.
Several other large investors have also added to or reduced their stakes in TFC. Bleakley Financial Group LLC grew its position in Truist Financial by 6.1% during the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after buying an additional 1,731 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of Truist Financial by 30.9% during the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after purchasing an additional 88,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Truist Financial by 53.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after purchasing an additional 117,524 shares during the last quarter. International Assets Investment Management LLC raised its stake in Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares in the last quarter. Finally, Loudon Investment Management LLC lifted its position in Truist Financial by 18.5% during the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after purchasing an additional 20,490 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Performance
Truist Financial stock opened at $38.25 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market cap of $51.18 billion, a P/E ratio of -28.98, a P/E/G ratio of 1.95 and a beta of 1.07. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $40.51. The firm has a 50-day moving average of $38.08 and a 200-day moving average of $36.20.
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, topping 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 business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the business posted $1.09 EPS. The business’s revenue was down 8.8% on a year-over-year basis. Sell-side analysts expect that Truist Financial Co. will post 3.33 EPS for the current year.
Truist Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on TFC. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Barclays initiated coverage on Truist Financial in a research report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price target on the stock. Piper Sandler upped their price objective on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Stephens upped their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, seven have issued 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 an average price target of $43.17.
Read Our Latest Stock Report on TFC
Insiders Place Their Bets
In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.
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
