Hilltop Holdings Inc. Sells 13,497 Shares of Truist Financial Corporation $TFC

Hilltop Holdings Inc. reduced its position in Truist Financial Corporation (NYSE:TFC) by 45.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,297 shares of the insurance provider’s stock after selling 13,497 shares during the period. Hilltop Holdings Inc.’s holdings in Truist Financial were worth $749,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. 3Chopt Investment Partners LLC lifted its stake in shares of Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after buying an additional 194 shares during the period. PCB Capital LLC grew its stake in Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after buying an additional 198 shares during the last quarter. AlphaCore Capital LLC raised its holdings in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after acquiring an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC raised its holdings in Truist Financial by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after acquiring an additional 199 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TFC shares. Royal Bank Of Canada upped their target price on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Finally, Evercore reissued an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.61.

Truist Financial Price Performance

TFC stock opened at $51.75 on Monday. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The stock has a market cap of $64.48 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.94 and a beta of 0.89. 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 company has a 50 day simple moving average of $49.81 and a 200 day simple moving average of $49.56.

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

Truist Financial Announces Dividend

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

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.