Truist Financial Corporation $TFC Holdings Raised by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 77.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,394 shares of the insurance provider’s stock after acquiring an additional 68,990 shares during the period. Axxcess Wealth Management LLC’s holdings in Truist Financial were worth $7,795,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TFC. IFP Advisors Inc increased its stake in Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 194 shares in the last quarter. AlphaCore Capital LLC increased its stake in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 199 shares in the last quarter. Alliance Wealth Advisors LLC increased its stake in Truist Financial by 1.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 205 shares in the last quarter. Private Trust Co. NA increased its stake in Truist Financial by 1.2% in the 4th quarter. Private Trust Co. NA now owns 18,778 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 215 shares in the last quarter. Finally, Aspiriant LLC increased its stake in Truist Financial by 2.3% in the 4th quarter. Aspiriant LLC now owns 9,721 shares of the insurance provider’s stock worth $478,000 after purchasing an additional 219 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 1.2%

Shares of Truist Financial stock opened at $48.45 on Friday. The firm has a market cap of $60.37 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 0.83 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 52-week low of $38.27 and a 52-week high of $56.19. The stock has a 50-day simple moving average of $47.87 and a 200-day simple moving average of $48.72.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Morgan Stanley lowered their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Finally, Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

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.