Huber Capital Management LLC increased its position in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 holdings, 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 hedge funds and other institutional investors have also recently bought and sold shares of the company. 3Chopt Investment Partners LLC increased its position in Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after purchasing an additional 193 shares during the last quarter. IFP Advisors Inc increased its position in Truist Financial by 2.4% during the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 194 shares during the last quarter. AlphaCore Capital LLC increased its position in Truist Financial by 8.3% during the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 199 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in Truist Financial by 5.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 199 shares during the last quarter. Finally, Mindset Wealth Management LLC increased its position in Truist Financial by 0.6% during the fourth quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after purchasing an additional 201 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Friday, May 1st. Morgan Stanley cut their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada boosted their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note 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 note on Tuesday, April 7th. Finally, Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $55.59.
Truist Financial Stock Up 1.9%
Shares of NYSE:TFC opened at $51.63 on Friday. The company has a market capitalization of $64.33 billion, a PE ratio of 12.81, a P/E/G 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. Truist Financial Corporation has a twelve month low of $38.83 and a twelve month high of $56.19. The firm has a 50 day simple moving average of $49.10 and a 200-day simple moving average of $49.16.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. On average, equities analysts predict that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s dividend payout ratio is 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.
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