Ritholtz Wealth Management boosted its position in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,738 shares of the insurance provider’s stock after buying an additional 1,110 shares during the quarter. Ritholtz Wealth Management’s holdings in Truist Financial were worth $277,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial during the 4th quarter valued at about $26,000. Navigoe LLC acquired a new position in Truist Financial in the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter worth approximately $45,000. TCTC Holdings LLC grew its holdings in Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 287 shares during the period. Finally, Pinney & Scofield Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $57,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Truist Financial Price Performance
TFC stock opened at $40.25 on Friday. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $52.71 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.84. The business has a 50 day simple moving average of $39.09 and a 200-day simple moving average of $42.15.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s payout ratio is currently 61.36%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on TFC. TD Cowen assumed coverage on Truist Financial in a research note on Thursday, May 15th. They set a “hold” rating and a $44.00 target price for the company. Argus set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 21st. Piper Sandler dropped their target price on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Citigroup cut their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.83.
View Our Latest Analysis on TFC
Truist Financial Company Profile
Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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