Cantor Fitzgerald Investment Advisors L.P. Has $18.79 Million Stock Position in Truist Financial Corporation $TFC

Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 437,087 shares of the insurance provider’s stock after purchasing an additional 1,437 shares during the quarter. Truist Financial makes up about 1.3% of Cantor Fitzgerald Investment Advisors L.P.’s holdings, making the stock its 19th biggest position. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Truist Financial were worth $18,790,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter worth $25,000. Centennial Bank AR lifted its stake in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the period. Motco boosted its stake in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC increased its holdings in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after buying an additional 352 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a report on Wednesday, July 9th. Evercore ISI increased their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday. Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Tuesday, July 8th. Finally, Morgan Stanley lifted their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.89.

Truist Financial Price Performance

TFC stock opened at $45.60 on Thursday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm has a market cap of $58.79 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.47 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $45.15 and its two-hundred day moving average price is $42.01.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial’s payout ratio is presently 56.68%.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation, a financial services 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.