79,533 Shares in Truist Financial Corporation $TFC Acquired by L & S Advisors Inc

L & S Advisors Inc acquired a new position in Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 79,533 shares of the insurance provider’s stock, valued at approximately $3,914,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Truist Financial by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after acquiring an additional 701,049 shares during the last quarter. Capital International Investors raised its position in shares of Truist Financial by 0.3% during the 3rd quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock valued at $4,921,717,000 after acquiring an additional 346,423 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Truist Financial by 8.4% during the 3rd quarter. Federated Hermes Inc. now owns 10,445,658 shares of the insurance provider’s stock valued at $477,575,000 after acquiring an additional 813,177 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after acquiring an additional 10,310,523 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Truist Financial by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,492,845 shares of the insurance provider’s stock valued at $388,300,000 after acquiring an additional 168,464 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on TFC shares. Piper Sandler upped their target price on shares of Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Friday, May 1st. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Morgan Stanley dropped their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Finally, 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. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Price Performance

Shares of TFC stock opened at $46.93 on Friday. Truist Financial Corporation has a 12-month low of $38.27 and a 12-month high of $56.19. The firm has a market capitalization of $58.47 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.80 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $47.78 and a 200-day moving average of $48.60.

Truist Financial (NYSE:TFC) last announced its 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 firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 EPS. On average, 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 announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. Truist Financial’s dividend payout ratio is presently 51.61%.

Truist Financial 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.