Brookstone Capital Management Sells 13,288 Shares of Truist Financial Corporation $TFC

Brookstone Capital Management reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 305,115 shares of the insurance provider’s stock after selling 13,288 shares during the quarter. Brookstone Capital Management’s holdings in Truist Financial were worth $14,026,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TFC. Vanguard Group Inc. raised its position in shares of Truist Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after buying an additional 701,049 shares in the last quarter. Capital International Investors boosted its position in shares of Truist Financial by 0.7% during the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after acquiring an additional 715,433 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Truist Financial by 7.5% during the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after acquiring an additional 2,226,288 shares in the last quarter. Morgan Stanley increased its stake in Truist Financial by 2.9% in the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock valued at $1,030,028,000 after acquiring an additional 597,255 shares during the last quarter. Finally, Auto Owners Insurance Co increased its stake in Truist Financial by 4,821.0% in the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock valued at $697,428,000 after acquiring an additional 13,884,480 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stephens assumed coverage on shares of Truist Financial in a research report on Monday, June 15th. They set an “overweight” rating and a $59.00 price objective for the company. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Friday, May 1st. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Royal Bank Of Canada upped their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $55.79.

Truist Financial Trading Up 0.8%

Shares of Truist Financial stock opened at $48.71 on Tuesday. The firm’s 50 day moving average is $49.13 and its 200 day moving average is $49.27. The firm has a market capitalization of $60.69 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.83 and a beta of 0.89. Truist Financial Corporation has a 1 year low of $39.99 and a 1 year high of $56.19. 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 issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Truist Financial Corporation will post 4.5 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid 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 was Friday, May 8th. Truist Financial’s dividend payout ratio is presently 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.