Greenspring Advisors LLC Makes New $530,000 Investment in Truist Financial Corporation $TFC

Greenspring Advisors LLC bought a new position in Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,769 shares of the insurance provider’s stock, valued at approximately $530,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Maseco LLP boosted 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 buying an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted 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 buying an additional 431 shares during the period. Ancora Advisors LLC boosted 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 buying an additional 500 shares during the period. Bare Financial Services Inc boosted 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 buying an additional 298 shares during the period. Finally, Quest 10 Wealth Builders Inc. boosted its position in shares of Truist Financial by 2,178.4% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after buying an additional 806 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 3.7%

NYSE:TFC opened at $49.16 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a one year low of $38.83 and a one year high of $56.19. The business’s 50-day simple moving average is $48.55 and its 200 day simple moving average is $48.96. The stock has a market cap of $61.25 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.81 and a beta of 0.89.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. Truist Financial’s payout ratio is 51.61%.

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Finally, Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.59.

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.