LSV Asset Management Reduces Stock Position in Truist Financial Corporation $TFC

LSV Asset Management lowered its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,090,900 shares of the insurance provider’s stock after selling 11,900 shares during the quarter. LSV Asset Management’s holdings in Truist Financial were worth $53,683,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the 3rd quarter valued at $28,000. Maseco LLP raised its position in Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position in Truist Financial by 190.7% during the 4th 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 raised its position in Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Finally, Bare Financial Services Inc raised its position in Truist Financial by 56.9% during the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada lifted 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. JPMorgan Chase & Co. decreased their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Robert W. Baird lowered 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. Finally, Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Trading Up 0.1%

TFC opened at $48.45 on Monday. The firm has a market cap of $60.37 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.83 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $38.27 and a 12 month high of $56.19. The stock has a fifty day moving average price of $47.87 and a 200-day moving average price of $48.75.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate 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 return on equity of 9.55% and a net margin of 18.14%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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