J.W. Cole Advisors Inc. Sells 19,047 Shares of Truist Financial Corporation $TFC

J.W. Cole Advisors Inc. cut its holdings in Truist Financial Corporation (NYSE:TFC) by 26.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,226 shares of the insurance provider’s stock after selling 19,047 shares during the period. J.W. Cole Advisors Inc.’s holdings in Truist Financial were worth $2,482,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TFC. Wellington Management Group LLP raised its position in Truist Financial by 13,511.7% in the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after acquiring an additional 10,310,523 shares during the period. Norges Bank bought a new position in Truist Financial in the fourth quarter worth approximately $502,340,000. American Assets Investment Management LLC raised its position in Truist Financial by 781.3% in the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock worth $166,527,000 after acquiring an additional 3,000,000 shares during the period. Bank of New York Mellon Corp raised its position in Truist Financial by 37.6% in the fourth quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock worth $516,732,000 after acquiring an additional 2,867,449 shares during the period. Finally, Azora Capital LP bought a new position in Truist Financial in the third quarter worth approximately $115,417,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TFC. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Morgan Stanley decreased their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. JPMorgan Chase & Co. decreased their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $49.24 on Monday. Truist Financial Corporation has a 52 week low of $38.83 and a 52 week high of $56.19. The stock has a market capitalization of $61.35 billion, a P/E ratio of 12.22, a PEG ratio of 0.84 and a beta of 0.89. The firm has a fifty day simple moving average of $48.63 and a two-hundred day simple moving average of $49.00. The company has a quick ratio of 0.86, a current 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, topping 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 analysts’ expectations of $5.18 billion. During the same period last year, the company posted $0.87 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 4.2%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

About Truist Financial

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.