Prospera Financial Services Inc decreased its stake in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,552 shares of the insurance provider’s stock after selling 10,612 shares during the quarter. Prospera Financial Services Inc’s holdings in Truist Financial were worth $1,996,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of TFC. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the 3rd quarter valued at about $28,000. Maseco LLP grew its position in shares of Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Truist Financial by 190.7% in 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 period. Ancora Advisors LLC lifted 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 valued at $32,000 after buying an additional 500 shares during the last quarter. Finally, Bare Financial Services Inc lifted 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 valued at $40,000 after buying an additional 298 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.
Analyst Upgrades and Downgrades
TFC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective 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. Morgan Stanley cut their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research report on Friday, April 17th. Finally, Evercore reissued an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $55.59.
Truist Financial Price Performance
Truist Financial stock opened at $48.42 on Thursday. Truist Financial Corporation has a 12 month low of $38.67 and a 12 month high of $56.19. The stock’s 50 day moving average is $48.13 and its 200-day moving average is $48.85. 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 has a market capitalization of $60.32 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.83 and a beta of 0.92.
Truist Financial (NYSE:TFC – Get Free Report) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities research analysts expect that Truist Financial Corporation will post 4.52 EPS for the current year.
Truist Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s payout ratio is presently 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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