New Age Alpha Advisors LLC acquired a new position in Truist Financial Corporation (NYSE:TFC – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 59,805 shares of the insurance provider’s stock, valued at approximately $2,943,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter worth approximately $28,000. Maseco LLP boosted its stake in Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in 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 purchasing an additional 431 shares in the last quarter. Ancora Advisors LLC boosted its stake in Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Finally, Bare Financial Services Inc boosted its stake in Truist Financial by 56.9% during the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 298 shares in the last quarter. 71.28% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Royal Bank Of Canada increased their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Morgan Stanley decreased their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Finally, Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Nine investment 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. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $55.59.
Truist Financial Stock Performance
TFC opened at $48.70 on Wednesday. The firm has a market cap of $60.67 billion, a PE ratio of 12.08, a P/E/G ratio of 0.83 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $48.05 and a 200-day simple moving average of $48.82. Truist Financial Corporation has a fifty-two week low of $38.67 and a fifty-two week high of $56.19.
Truist Financial (NYSE:TFC – Get Free Report) last released 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 analyst estimates of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.87 EPS. As a group, equities analysts predict 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. Stockholders of record on Friday, May 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.
About Truist Financial
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.
Featured Stories
- Five stocks we like better than Truist Financial
- Banks Are Buying Back Stock Hand Over Fist, Including These 3 Names
- 2 Aluminum Stocks Poised for Big Tariff-Related Gains
- AutoZone’s Pullback Sets Up a Long-Term Buying Opportunity
- AST SpaceMobile’s June Launch Plan Puts Its 2026 Satellite Goal Back in Focus
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Corporation (NYSE:TFC – Free Report).
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.
-oil--gas-ltd-logo-1200x675.png){kind=logo}
