Csenge Advisory Group Decreases Stake in Truist Financial Corporation $TFC

Csenge Advisory Group reduced its holdings in Truist Financial Corporation (NYSE:TFC) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,348 shares of the insurance provider’s stock after selling 14,838 shares during the quarter. Csenge Advisory Group’s holdings in Truist Financial were worth $3,363,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. ProShare Advisors LLC grew its position in shares of Truist Financial by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 305,575 shares of the insurance provider’s stock worth $15,037,000 after buying an additional 9,477 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Truist Financial by 2.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 97,838 shares of the insurance provider’s stock worth $4,815,000 after buying an additional 2,011 shares during the last quarter. Entrust Financial LLC bought a new stake in shares of Truist Financial in the 4th quarter worth approximately $131,000. Cascade Financial Partners LLC bought a new stake in shares of Truist Financial in the 4th quarter worth approximately $277,000. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Truist Financial in the 4th quarter worth approximately $259,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TFC. Argus lifted their price target on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada lifted their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. 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 report on Friday, May 1st. Finally, Morgan Stanley dropped their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Stock Down 0.5%

Truist Financial stock opened at $46.81 on Wednesday. The stock has a market cap of $58.32 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a one year low of $38.27 and a one year high of $56.19. The stock has a fifty day moving average of $47.76 and a 200 day moving average of $48.67.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. Truist Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. Truist Financial’s dividend payout ratio is 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.