Truist Financial Corporation $TFC Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp grew its holdings in Truist Financial Corporation (NYSE:TFC) by 64.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 393,688 shares of the insurance provider’s stock after acquiring an additional 154,900 shares during the quarter. King Luther Capital Management Corp’s holdings in Truist Financial were worth $19,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TFC. Brighton Jones LLC lifted its holdings in shares of Truist Financial by 148.5% during 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 during the period. Woodline Partners LP lifted its holdings in shares of Truist Financial by 39.5% during the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after purchasing an additional 31,454 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Truist Financial during the second quarter worth about $575,000. AXA S.A. lifted its holdings in shares of Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 4,921 shares during the period. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Truist Financial by 20.1% during the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TFC. Morgan Stanley decreased their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Royal Bank Of Canada lifted their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Finally, Evercore reiterated an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Nine research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Stock Down 0.5%

Shares of TFC stock opened at $48.42 on Thursday. The stock has a 50 day moving average of $48.13 and a 200 day moving average of $48.85. 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 stock has a market cap of $60.32 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.83 and a beta of 0.92. Truist Financial Corporation has a twelve month low of $38.67 and a twelve month high of $56.19.

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, beating the consensus estimate 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%.Truist Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. As a group, sell-side analysts expect that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

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.