Chilton Investment Co. Inc. reduced its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,950 shares of the insurance provider’s stock after selling 3,373 shares during the quarter. Chilton Investment Co. Inc.’s holdings in Truist Financial were worth $478,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Operose Advisors LLC purchased a new stake in shares of Truist Financial during the 3rd quarter valued at about $31,000. Missouri Trust & Investment Co raised its holdings 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 buying an additional 593 shares during the period. Tyler Stone Wealth Management purchased a new stake in shares of Truist Financial during the 3rd quarter valued at about $33,000. Morton Brown Family Wealth LLC raised its holdings 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 buying an additional 649 shares during the period. Finally, Northwest Financial Advisors purchased a new stake in shares of Truist Financial during the 4th quarter valued at about $34,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.
Truist Financial Trading Up 3.2 %
NYSE:TFC opened at $36.81 on Thursday. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51. The firm has a market capitalization of $49.26 billion, a P/E ratio of -27.89, a P/E/G ratio of 1.78 and a beta of 1.06. 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 business has a 50 day simple moving average of $37.97 and a 200 day simple moving average of $36.83.
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 (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.70 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts predict that Truist Financial Co. will post 3.36 EPS for the current year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on TFC. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. raised their price objective on 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 restated an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a research note on Thursday, May 9th. Finally, Stephens raised their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.17.
Get Our Latest Research 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
