BCS Wealth Management Has $1.11 Million Stake in Truist Financial Corporation $TFC

BCS Wealth Management reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 49.7% in the first quarter, HoldingsChannel.com reports. The firm owned 24,146 shares of the insurance provider’s stock after selling 23,902 shares during the period. BCS Wealth Management’s holdings in Truist Financial were worth $1,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in Truist Financial in the 4th quarter valued at $26,000. McMillan Office Inc. purchased a new stake in Truist Financial in the 4th quarter valued at $31,000. Maseco LLP lifted its stake 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 acquiring an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings 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 worth $32,000 after acquiring an additional 431 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. JPMorgan Chase & Co. cut their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Morgan Stanley reduced their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Finally, Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Sunday. Ten 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.79.

Truist Financial Stock Performance

Shares of TFC opened at $49.68 on Wednesday. The firm has a market cap of $61.90 billion, a PE ratio of 12.33, a PEG ratio of 0.84 and a beta of 0.89. The stock’s fifty day moving average price is $49.13 and its two-hundred day moving average price is $49.29. 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 1 year low of $40.78 and a 1 year high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial Corporation will post 4.5 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s dividend payout ratio 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.