Black Maple Capital Management LP trimmed its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,084 shares of the insurance provider’s stock after selling 18,000 shares during the quarter. Truist Financial makes up approximately 4.6% of Black Maple Capital Management LP’s investment portfolio, making the stock its 4th largest position. Black Maple Capital Management LP’s holdings in Truist Financial were worth $5,541,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC grew its holdings in shares of 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. lifted its stake in shares of Truist Financial by 30.9% in the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after buying an additional 88,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Truist Financial by 53.1% during 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 acquiring an additional 117,524 shares during the last quarter. Parnassus Investments LLC purchased a new stake in Truist Financial during the 4th quarter valued at about $95,049,000. Finally, Rafferty Asset Management LLC raised its holdings in Truist Financial by 47.7% in the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after acquiring an additional 382,976 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Truist Financial Stock Up 3.2 %
Shares of NYSE:TFC opened at $36.81 on Thursday. 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 $49.26 billion, a PE ratio of -27.89, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. The firm’s 50-day moving average is $37.97 and its two-hundred day moving average is $36.83. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results 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 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 the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Analysts predict that Truist Financial Co. will post 3.36 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.65%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on TFC shares. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 4th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Finally, UBS Group boosted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.
Read Our Latest Report on Truist Financial
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
