XML Financial LLC Decreases Stock Holdings in Truist Financial Corporation $TFC

XML Financial LLC reduced its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,291 shares of the insurance provider’s stock after selling 10,373 shares during the quarter. XML Financial LLC’s holdings in Truist Financial were worth $3,656,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Maseco LLP lifted its holdings in Truist Financial by 53.8% during the fourth 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. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares during the period. Ancora Advisors LLC lifted its holdings in Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 500 shares during the period. Bare Financial Services Inc lifted its holdings in Truist Financial by 56.9% during the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 298 shares during the period. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of Truist Financial by 2,178.4% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 806 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TFC. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Friday, May 1st. Royal Bank Of Canada raised their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Stock Up 0.1%

Truist Financial stock opened at $49.24 on Friday. Truist Financial Corporation has a 1-year low of $38.83 and a 1-year high of $56.19. The firm has a market capitalization of $61.35 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.84 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 firm has a 50 day simple moving average of $48.63 and a 200 day simple moving average of $48.97.

Truist Financial (NYSE:TFC) last released its quarterly earnings data 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. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the business earned $0.87 EPS. Truist Financial’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is currently 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.