Moody National Bank Trust Division reduced its position in Truist Financial Co. (NYSE:TFC – Get Rating) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 26,269 shares of the insurance provider’s stock after selling 487 shares during the period. Moody National Bank Trust Division’s holdings in Truist Financial were worth $1,489,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management grew its stake in Truist Financial by 456.4% in the 4th quarter. Hanson & Doremus Investment Management now owns 434 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 356 shares during the period. Elmwood Wealth Management Inc. acquired a new position in shares of Truist Financial in the 4th quarter valued at $25,000. Reilly Financial Advisors LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at $28,000. Delos Wealth Advisors LLC boosted its holdings in shares of Truist Financial by 108.9% in the 4th quarter. Delos Wealth Advisors LLC now owns 518 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 270 shares during the last quarter. Finally, Amplius Wealth Advisors LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at $31,000. 72.79% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on TFC. Bank of America lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price target on the stock. in a report on Friday, April 8th. StockNews.com lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Wolfe Research decreased their price target on shares of Truist Financial from $57.00 to $41.00 and set an “underperform” rating on the stock in a report on Thursday, May 26th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $75.00 to $58.00 in a report on Monday, April 11th. Finally, Morgan Stanley reduced their target price on shares of Truist Financial from $72.00 to $63.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus price target of $62.46.
Truist Financial stock opened at $47.23 on Thursday. Truist Financial Co. has a 12-month low of $44.75 and a 12-month high of $68.95. The company has a market capitalization of $62.88 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.76 and a quick ratio of 0.75. The firm’s fifty day moving average price is $48.61 and its 200 day moving average price is $56.28.
Truist Financial (NYSE:TFC – Get Rating) last released its quarterly earnings results on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.11. Truist Financial had a net margin of 27.89% and a return on equity of 12.70%. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts forecast that Truist Financial Co. will post 4.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, May 12th. Truist Financial’s dividend payout ratio (DPR) is 42.86%.
Truist Financial Profile (Get Rating)
Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
- Get a free copy of the StockNews.com research report on Truist Financial (TFC)
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