Eagle Strategies LLC Trims Stock Holdings in Truist Financial Corporation (NYSE:TFC)

Eagle Strategies LLC decreased its stake in Truist Financial Corporation (NYSE:TFC) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,727 shares of the insurance provider’s stock after selling 730 shares during the quarter. Eagle Strategies LLC’s holdings in Truist Financial were worth $318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. LaFleur & Godfrey LLC grew its position in shares of Truist Financial by 4.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider’s stock worth $4,692,000 after purchasing an additional 4,670 shares in the last quarter. Brighton Jones LLC grew its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Truist Financial by 6.4% during the fourth quarter. Private Advisor Group LLC now owns 84,554 shares of the insurance provider’s stock worth $3,668,000 after purchasing an additional 5,080 shares in the last quarter. TCW Group Inc. grew its position in shares of Truist Financial by 2.6% during the fourth quarter. TCW Group Inc. now owns 18,707 shares of the insurance provider’s stock worth $812,000 after purchasing an additional 469 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its position in shares of Truist Financial by 28.8% during the fourth quarter. Wealthspire Advisors LLC now owns 33,603 shares of the insurance provider’s stock worth $1,458,000 after purchasing an additional 7,507 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stephens cut their target price on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. TD Cowen assumed coverage on Truist Financial in a research report on Thursday, May 15th. They set a “hold” rating and a $44.00 target price for the company. Citigroup cut their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Piper Sandler cut their target price on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Truist Financial Price Performance

NYSE:TFC opened at $41.09 on Tuesday. The firm has a market capitalization of $53.81 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.49 and a beta of 0.84. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The business has a 50 day simple moving average of $39.19 and a 200-day simple moving average of $42.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period last year, the company earned $0.90 EPS. Equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s payout ratio is 61.36%.

Truist Financial Company 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.