Guardian Wealth Advisors LLC NC Raises Stock Holdings in Truist Financial Corporation $TFC

Guardian Wealth Advisors LLC NC increased its position in Truist Financial Corporation (NYSE:TFC) by 71.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,269 shares of the insurance provider’s stock after acquiring an additional 31,860 shares during the period. Guardian Wealth Advisors LLC NC’s holdings in Truist Financial were worth $3,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. Kemnay Advisory Services Inc. purchased a new position in Truist Financial in the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new position in Truist Financial in the 4th quarter worth $26,000. McMillan Office Inc. purchased a new position in Truist Financial in the 4th quarter worth $31,000. Maseco LLP raised its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in Truist Financial by 190.7% in the 4th 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 last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $49.15 on Wednesday. The stock has a 50-day simple moving average of $49.16 and a two-hundred day simple moving average of $49.22. The firm has a market capitalization of $61.24 billion, a P/E ratio of 12.20, a PEG ratio of 0.83 and a beta of 0.89. Truist Financial Corporation has a fifty-two week low of $38.88 and a fifty-two 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.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business 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 company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. On average, equities analysts forecast that Truist Financial Corporation will post 4.5 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TFC. Morgan Stanley reduced their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Royal Bank Of Canada raised their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.79.

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.