Truist Financial Corporation $TFC Shares Purchased by Focus Partners Wealth

Focus Partners Wealth increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 345.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 854,472 shares of the insurance provider’s stock after purchasing an additional 662,468 shares during the period. Focus Partners Wealth owned 0.07% of Truist Financial worth $41,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Swiss RE Ltd. acquired a new position in shares of Truist Financial during the 4th quarter worth about $26,000. McMillan Office Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth about $31,000. Maseco LLP raised its position in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in shares of Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TFC shares. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Morgan Stanley cut their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Stephens initiated coverage on shares of Truist Financial in a research note on Monday. They issued an “overweight” rating and a $59.00 target price on the stock. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.79.

Truist Financial Trading Down 6.3%

TFC opened at $48.39 on Tuesday. 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 company’s 50 day simple moving average is $49.12 and its two-hundred day simple moving average is $49.20. Truist Financial Corporation has a 1-year low of $38.88 and a 1-year high of $56.19. The firm has a market capitalization of $60.29 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 EPS. Analysts expect that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.52 per share. The ex-dividend date was 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 currently 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.