Thrivent Financial for Lutherans Purchases 20,340 Shares of Truist Financial Corporation $TFC

Thrivent Financial for Lutherans increased its position in Truist Financial Corporation (NYSE:TFC) by 33.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,412 shares of the insurance provider’s stock after purchasing an additional 20,340 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Truist Financial were worth $3,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TFC. Brighton Jones LLC grew its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Woodline Partners LP boosted its position in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after acquiring an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Truist Financial during the 2nd quarter valued at $575,000. AXA S.A. boosted its position in Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after acquiring an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 1,134 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 1.2%

Truist Financial stock opened at $48.45 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $60.37 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.82 and a beta of 0.92. Truist Financial Corporation has a 1-year low of $38.27 and a 1-year high of $56.19. The business has a fifty day moving average price of $47.87 and a 200-day moving average price of $48.72.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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 firm 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. Equities research analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current fiscal 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 given 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 4.3%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TFC shares. Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Argus increased their target price on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Morgan Stanley dropped their target price 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 analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.59.

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.