Greenspring Advisors LLC Takes $530,000 Position in Truist Financial Corporation $TFC

Greenspring Advisors LLC purchased a new stake in Truist Financial Corporation (NYSE:TFC) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 10,769 shares of the insurance provider’s stock, valued at approximately $530,000.

A number of other institutional investors have also made changes to their positions in TFC. Maseco LLP increased its holdings in shares of Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares during the last quarter. Ancora Advisors LLC increased its holdings in shares of Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Bare Financial Services Inc increased its holdings in shares of Truist Financial by 56.9% in the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 298 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its holdings in shares of Truist Financial by 2,178.4% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 806 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 3.7%

Shares of Truist Financial stock opened at $49.16 on Friday. 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 business’s 50 day simple moving average is $48.55 and its 200-day simple moving average is $48.96. The stock has a market capitalization of $61.25 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.81 and a beta of 0.89. Truist Financial Corporation has a twelve month low of $38.83 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, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for 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 period in the prior year, the firm earned $0.87 EPS. Equities research analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio is presently 51.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TFC shares. Evercore reiterated an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. JPMorgan Chase & Co. lowered their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Finally, Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.