Entropy Technologies LP Makes New Investment in Truist Financial Corporation $TFC

Entropy Technologies LP bought a new position in shares of Truist Financial Corporation (NYSE:TFC) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 217,038 shares of the insurance provider’s stock, valued at approximately $10,680,000.

Several other institutional investors also recently made changes to their positions in TFC. Brighton Jones LLC boosted its position in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Woodline Partners LP boosted its position in shares of Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Truist Financial during the 2nd quarter worth $575,000. AXA S.A. boosted its position in shares of Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in shares of Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after buying an additional 1,134 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. Royal Bank Of Canada lifted their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley cut 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. JPMorgan Chase & Co. cut their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group reaffirmed a “mixed” rating and set 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Trading Up 1.9%

Shares of TFC stock opened at $51.63 on Friday. The firm has a 50-day moving average price of $49.10 and a 200 day moving average price of $49.16. Truist Financial Corporation has a twelve month low of $38.83 and a twelve month high of $56.19. The company has a market capitalization of $64.33 billion, a price-to-earnings ratio of 12.81, a PEG 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 (NYSE:TFC) last announced its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.0%. 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.