Truist Financial Corporation $TFC Stake Increased by Interval Partners LP

Interval Partners LP grew its holdings in Truist Financial Corporation (NYSE:TFC) by 125.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,985 shares of the insurance provider’s stock after purchasing an additional 297,610 shares during the period. Interval Partners LP’s holdings in Truist Financial were worth $26,327,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in shares of Truist Financial in the fourth quarter valued at $26,000. McMillan Office Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at $31,000. Maseco LLP lifted its holdings in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Truist Financial by 190.7% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $48.17 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $60.02 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.84 and a beta of 0.89. Truist Financial Corporation has a 1 year low of $38.94 and a 1 year high of $56.19. The business has a fifty day simple moving average of $49.18 and a 200 day simple moving average of $49.23.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts predict that Truist Financial Corporation will post 4.5 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Analyst Ratings Changes

Several analysts recently issued reports on TFC shares. JPMorgan Chase & Co. cut their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Royal Bank Of Canada increased their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Stephens started coverage on Truist Financial in a report on Monday. They set an “overweight” rating and a $59.00 price objective for the company. Finally, Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.79.

Truist Financial Company 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.