Huber Capital Management LLC Grows Holdings in Truist Financial Corporation $TFC

Huber Capital Management LLC boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 11.0% in the 4th quarter, Holdings Channel reports. The firm owned 201,464 shares of the insurance provider’s stock after purchasing an additional 20,000 shares during the period. Truist Financial accounts for about 1.5% of Huber Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Huber Capital Management LLC’s holdings in Truist Financial were worth $9,914,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cibc World Market Inc. raised its position in Truist Financial by 17.2% during the 3rd quarter. Cibc World Market Inc. now owns 174,041 shares of the insurance provider’s stock worth $7,957,000 after buying an additional 25,590 shares during the last quarter. Pinnacle Financial Partners Inc. raised its position in Truist Financial by 30.0% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after buying an additional 40,393 shares during the last quarter. Equitable Trust Co. increased its holdings in shares of Truist Financial by 48.9% in the 3rd quarter. Equitable Trust Co. now owns 118,261 shares of the insurance provider’s stock valued at $5,407,000 after purchasing an additional 38,850 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Truist Financial by 9.0% in the 3rd quarter. Legal & General Group Plc now owns 7,902,804 shares of the insurance provider’s stock valued at $361,316,000 after purchasing an additional 655,542 shares in the last quarter. Finally, Cadence Bank increased its holdings in shares of Truist Financial by 8.0% in the 3rd quarter. Cadence Bank now owns 335,969 shares of the insurance provider’s stock valued at $15,361,000 after purchasing an additional 24,745 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Morgan Stanley cut their price target on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a 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 company an “outperform” rating in a report on Monday, April 20th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Price Performance

NYSE:TFC opened at $51.63 on Friday. The firm has a market cap of $64.33 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average is $49.10 and its two-hundred day moving average is $49.16. Truist Financial Corporation has a 12-month low of $38.83 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. Research analysts expect that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio is 51.61%.

Truist Financial Company 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.