Mcrae Capital Management Inc. Buys 13,979 Shares of Truist Financial Corporation $TFC

Mcrae Capital Management Inc. increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,838 shares of the insurance provider’s stock after acquiring an additional 13,979 shares during the quarter. Truist Financial comprises approximately 3.2% of Mcrae Capital Management Inc.’s holdings, making the stock its 15th largest holding. Mcrae Capital Management Inc.’s holdings in Truist Financial were worth $15,592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maseco LLP increased 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 acquiring an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased 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 acquiring an additional 431 shares during the period. Ancora Advisors LLC boosted its stake in Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Bare Financial Services Inc increased its holdings in 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 buying an additional 298 shares during the period. Finally, Quest 10 Wealth Builders Inc. increased its holdings in 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 buying an additional 806 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 1.3%

Shares of NYSE:TFC opened at $47.51 on Thursday. Truist Financial Corporation has a 52 week low of $38.83 and a 52 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 company’s fifty day moving average is $48.47 and its 200-day moving average is $48.93. The company has a market capitalization of $59.19 billion, a PE ratio of 11.79, a P/E/G ratio of 0.82 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS 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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the previous year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TFC shares. Royal Bank Of Canada boosted their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report 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 price target on the stock. in a report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Morgan Stanley lowered their price target on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus 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.