Cetera Investment Advisers Has $37.29 Million Stock Position in Truist Financial Corporation $TFC

Cetera Investment Advisers increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 3.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 811,112 shares of the insurance provider’s stock after purchasing an additional 28,253 shares during the period. Cetera Investment Advisers’ holdings in Truist Financial were worth $37,287,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in Truist Financial during the 4th quarter valued at $26,000. McMillan Office Inc. acquired a new stake in Truist Financial during the 4th quarter valued at $31,000. Maseco LLP boosted its position in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in Truist Financial by 190.7% during the fourth 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 period. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TFC. UBS Group lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Robert W. Baird upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Stephens lowered their price target on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Finally, Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $54.61.

Truist Financial Stock Up 1.1%

TFC stock opened at $51.75 on Friday. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $64.48 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.94 and a beta of 0.89. The business’s fifty day moving average price is $49.81 and its two-hundred day moving average price is $49.56.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Corporation will post 4.59 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s payout ratio is 47.71%.

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.