Prospera Financial Services Inc Has $2 Million Stake in Truist Financial Corporation $TFC

Prospera Financial Services Inc trimmed its holdings in Truist Financial Corporation (NYSE:TFC) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,552 shares of the insurance provider’s stock after selling 10,612 shares during the period. Prospera Financial Services Inc’s holdings in Truist Financial were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth $28,000. Maseco LLP increased its position in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. Ancora Advisors LLC increased its position in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares during the period. Finally, Bare Financial Services Inc increased its position in shares of Truist Financial by 56.9% in the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 298 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TFC shares. Morgan Stanley decreased their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Royal Bank Of Canada increased their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Price Performance

TFC stock opened at $48.42 on Thursday. The company has a 50 day simple moving average of $48.13 and a 200 day simple moving average of $48.85. The stock has a market cap of $60.32 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 0.83 and a beta of 0.92. Truist Financial Corporation has a 1 year low of $38.67 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. Research analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio is currently 51.61%.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.