Entropy Technologies LP Has $9.22 Million Holdings in Truist Financial Corporation $TFC

Entropy Technologies LP lessened its holdings in Truist Financial Corporation (NYSE:TFC) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200,623 shares of the insurance provider’s stock after selling 16,415 shares during the quarter. Entropy Technologies LP’s holdings in Truist Financial were worth $9,223,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new position in Truist Financial in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in Truist Financial during the 4th quarter worth $26,000. McMillan Office Inc. bought a new stake in shares of Truist Financial during the 4th quarter valued at $31,000. Maseco LLP raised its position in shares of 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 acquiring an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake 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 purchasing an additional 431 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock opened at $51.75 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The firm has a fifty day moving average of $49.81 and a 200-day moving average of $49.56. The firm has a market capitalization of $64.48 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 0.93 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. On average, equities research analysts forecast that Truist Financial Corporation will post 4.59 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TFC shares. Jefferies Financial Group restated a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Bank of America reiterated a “neutral” rating and issued a $56.00 price objective (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. UBS Group cut Truist Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $55.00 in a report on Tuesday, July 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $54.00 price target (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $54.61.

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.