KLCM Advisors Inc. Buys 19,875 Shares of Truist Financial Corporation $TFC

KLCM Advisors Inc. lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 353,458 shares of the insurance provider’s stock after purchasing an additional 19,875 shares during the period. Truist Financial accounts for about 1.4% of KLCM Advisors Inc.’s holdings, making the stock its 17th biggest position. KLCM Advisors Inc.’s holdings in Truist Financial were worth $16,248,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Auto Owners Insurance Co raised its stake in shares of Truist Financial by 4,821.0% in the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock valued at $697,428,000 after buying an additional 13,884,480 shares during the period. Wellington Management Group LLP increased its holdings in shares of Truist Financial by 13,511.7% in the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after purchasing an additional 10,310,523 shares during the period. Norges Bank purchased a new stake in shares of Truist Financial in the 4th quarter valued at about $502,340,000. American Assets Investment Management LLC raised its stake in Truist Financial by 781.2% in the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock valued at $166,527,000 after purchasing an additional 3,000,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Truist Financial by 37.6% during the 4th quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock valued at $516,732,000 after buying an additional 2,867,449 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several research reports. Robert W. Baird cut shares of 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. reduced their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and an average price target of $54.47.

Truist Financial Trading Up 0.7%

Shares of TFC stock traded up $0.34 during trading hours on Friday, reaching $51.71. The company’s stock had a trading volume of 6,037,025 shares, compared to its average volume of 10,161,204. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $64.43 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.90 and a beta of 0.89. The firm’s fifty day simple moving average is $49.18 and its 200 day simple moving average is $49.44. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping 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 business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts expect that Truist Financial Corporation will post 4.51 EPS 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 issued a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

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.