10,763 Shares in Truist Financial Corporation $TFC Bought by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management acquired a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 10,763 shares of the insurance provider’s stock, valued at approximately $530,000.

A number of other institutional investors have also added to or reduced their stakes in TFC. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial in the 3rd quarter valued at about $28,000. Maseco LLP increased its position in shares of Truist Financial by 53.8% in 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 last quarter. Mowery & Schoenfeld Wealth Management LLC raised its stake in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares in the last quarter. Ancora Advisors LLC lifted its position in Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Finally, Bare Financial Services Inc grew its stake in Truist Financial by 56.9% in the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock worth $40,000 after buying an additional 298 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $48.45 on Friday. 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 stock has a market cap of $60.37 billion, a PE ratio of 12.02, a PEG ratio of 0.82 and a beta of 0.92. The company’s fifty day moving average is $47.87 and its 200 day moving average is $48.72. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.3%. Truist Financial’s payout ratio is presently 51.61%.

Analysts Set New Price Targets

TFC has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Evercore reiterated an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Finally, Royal Bank Of Canada raised their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price 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.