Motley Fool Asset Management LLC Raises Position in Truist Financial Corporation $TFC

Motley Fool Asset Management LLC boosted its stake in Truist Financial Corporation (NYSE:TFC) by 35.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,811 shares of the insurance provider’s stock after buying an additional 31,767 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Truist Financial were worth $5,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. Letko Brosseau & Associates Inc. lifted its stake in Truist Financial by 1.9% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,696,756 shares of the insurance provider’s stock worth $83,497,000 after purchasing an additional 32,200 shares in the last quarter. Insight Advisors LLC PA purchased a new position in Truist Financial in the 4th quarter worth approximately $213,000. Focus Partners Advisor Solutions LLC lifted its stake in Truist Financial by 4.8% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 47,710 shares of the insurance provider’s stock worth $2,348,000 after purchasing an additional 2,205 shares in the last quarter. Advocacy Wealth Management LLC lifted its stake in Truist Financial by 1.4% in the 4th quarter. Advocacy Wealth Management LLC now owns 14,922 shares of the insurance provider’s stock worth $734,000 after purchasing an additional 202 shares in the last quarter. Finally, X Square Capital LLC lifted its stake in Truist Financial by 2.1% in the 4th quarter. X Square Capital LLC now owns 14,949 shares of the insurance provider’s stock worth $736,000 after purchasing an additional 311 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 1.1%

Truist Financial stock opened at $49.37 on Wednesday. Truist Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $48.80 and a 200 day moving average price of $49.07. The company has a market capitalization of $61.51 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its 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. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current 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 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TFC. Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Morgan Stanley decreased their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. 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. Finally, Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.59.

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.