Truist Financial Corporation $TFC Position Increased by Apella Capital LLC

Apella Capital LLC grew its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 286.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,798 shares of the insurance provider’s stock after purchasing an additional 31,715 shares during the period. Apella Capital LLC’s holdings in Truist Financial were worth $2,164,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. 3Chopt Investment Partners LLC raised its stake in Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares during the period. IFP Advisors Inc boosted its position in Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 194 shares during the period. AlphaCore Capital LLC grew its stake in Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after buying an additional 199 shares during the last quarter. CYBER HORNET ETFs LLC grew its stake in Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after buying an additional 199 shares during the last quarter. Finally, Mindset Wealth Management LLC increased its position in Truist Financial by 0.6% in the fourth quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after buying an additional 201 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 1.7%

Shares of NYSE:TFC opened at $50.63 on Friday. The company has a 50 day moving average of $49.15 and a 200-day moving average of $49.33. 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 firm has a market cap of $63.08 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.85 and a beta of 0.89. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts anticipate that Truist Financial Corporation will post 4.5 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TFC shares. Morgan Stanley cut 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. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, May 1st. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Finally, 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 report on Monday, April 20th. Ten 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 $55.79.

Truist Financial 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.