Blue Trust Inc. Boosts Stock Position in Truist Financial Corporation $TFC

Blue Trust Inc. lifted its stake in Truist Financial Corporation (NYSE:TFC – Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,165 shares of the insurance provider’s stock after purchasing an additional 12,043 shares during the quarter. Blue Trust Inc.’s holdings in Truist Financial were worth $5,110,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TFC. Kemnay Advisory Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new stake in shares of Truist Financial in the 4th quarter worth $26,000. McMillan Office Inc. purchased a new position in shares of Truist Financial during the 4th quarter worth $31,000. Maseco LLP raised its holdings in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

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Truist Financial Trading Up 0.3%

NYSE TFC opened at $49.81 on Thursday. The firm’s 50-day moving average is $49.13 and its two-hundred day moving average is $49.31. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month 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. The stock has a market capitalization of $62.06 billion, a P/E ratio of 12.36, a PEG ratio of 0.85 and a beta of 0.89.

Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating 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 business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4.5 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

TFC has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective 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. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday. JPMorgan Chase & Co. decreased their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. 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 research note on Monday, April 20th. Finally, Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $55.79.

Get Our Latest Analysis on Truist Financial

Truist Financial Company Profile

(Free Report)

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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