American Research & Management Co. decreased its stake in Truist Financial Co. (NYSE:TFC) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,755 shares of the insurance provider’s stock after selling 361 shares during the period. American Research & Management Co.’s holdings in Truist Financial were worth $511,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TFC. Hoover Financial Advisors Inc. acquired a new position in Truist Financial in the fourth quarter valued at $25,000. Peoples Financial Services CORP. grew its stake in Truist Financial by 173.4% during the 4th quarter. Peoples Financial Services CORP. now owns 544 shares of the insurance provider’s stock worth $26,000 after buying an additional 345 shares during the last quarter. Kinloch Capital LLC acquired a new position in Truist Financial during the fourth quarter worth approximately $26,000. RWM Asset Management LLC purchased a new stake in Truist Financial in the fourth quarter valued at approximately $30,000. Finally, Sterling Financial Planning Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $36,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Truist Financial from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, January 22nd. Jefferies Financial Group downgraded Truist Financial from a “buy” rating to a “hold” rating and upped their price objective for the company from $48.00 to $55.00 in a research note on Thursday, January 7th. Barclays lifted their target price on Truist Financial from $59.00 to $64.00 in a research note on Wednesday. Raymond James increased their price target on Truist Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Truist lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $51.02.
Shares of NYSE:TFC traded down $0.48 on Thursday, hitting $58.95. The company had a trading volume of 81,657 shares, compared to its average volume of 6,060,918. The company has a market cap of $79.26 billion, a PE ratio of 20.21, a PEG ratio of 1.75 and a beta of 1.36. The business has a 50 day moving average of $58.34 and a 200 day moving average of $49.42. Truist Financial Co. has a 52-week low of $29.24 and a 52-week high of $61.26. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66.
Truist Financial (NYSE:TFC) last released its earnings results on Wednesday, January 20th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.19. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.42 billion. Truist Financial had a net margin of 16.95% and a return on equity of 7.76%. During the same period in the prior year, the firm earned $1.04 EPS. As a group, equities analysts predict that Truist Financial Co. will post 3.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.80 annualized dividend and a yield of 3.05%. Truist Financial’s dividend payout ratio (DPR) is presently 41.19%.
Truist Financial Profile
Truist Financial Corporation, a holding 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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