Cetera Investment Advisers Has $37.29 Million Holdings in Truist Financial Corporation $TFC

Cetera Investment Advisers boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 811,112 shares of the insurance provider’s stock after purchasing an additional 28,253 shares during the period. Cetera Investment Advisers owned about 0.07% of Truist Financial worth $37,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 3Chopt Investment Partners LLC grew its holdings in shares of 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 buying an additional 193 shares in the last quarter. IFP Advisors Inc lifted 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 valued at $404,000 after acquiring an additional 194 shares in the last quarter. PCB Capital LLC lifted its stake in Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after acquiring an additional 198 shares in the last quarter. AlphaCore Capital LLC lifted 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 valued at $128,000 after acquiring an additional 199 shares in the last quarter. Finally, CYBER HORNET ETFs LLC boosted its position 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 acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TFC. Evercore reaffirmed an “outperform” rating and set a $57.00 price target on shares of Truist Financial in a research note on Monday, July 6th. Robert W. Baird increased their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Stephens reduced their target price on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $53.00 price target (down from $53.50) on shares of Truist Financial in a research note on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.61.

Truist Financial Stock Up 1.1%

TFC stock opened at $51.75 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $49.81 and a two-hundred day moving average price of $49.56. The company has a market cap of $64.48 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.94 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 results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Truist Financial Corporation will post 4.59 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is presently 47.71%.

About Truist Financial

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.