Alps Advisors Inc. Sells 39,948 Shares of Truist Financial Corporation $TFC

Alps Advisors Inc. decreased its position in shares of Truist Financial Corporation (NYSE:TFC) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 502,788 shares of the insurance provider’s stock after selling 39,948 shares during the period. Alps Advisors Inc.’s holdings in Truist Financial were worth $24,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. 3Chopt Investment Partners LLC increased its position in shares of Truist Financial by 1.3% in the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after buying an additional 193 shares in the last quarter. IFP Advisors Inc increased its position in shares of Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after buying an additional 194 shares in the last quarter. AlphaCore Capital LLC increased its position in shares of Truist Financial by 8.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in shares of Truist Financial by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after buying an additional 199 shares in the last quarter. Finally, Advocacy Wealth Management LLC increased its position in shares of Truist Financial by 1.4% in the fourth quarter. Advocacy Wealth Management LLC now owns 14,922 shares of the insurance provider’s stock valued at $734,000 after buying an additional 202 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 1.9%

TFC opened at $50.72 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $63.20 billion, a P/E ratio of 12.59, a PEG ratio of 0.85 and a beta of 0.89. Truist Financial Corporation has a 52 week low of $38.83 and a 52 week high of $56.19. The business’s fifty day simple moving average is $49.00 and its 200 day simple moving average is $49.14.

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. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TFC shares. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Royal Bank Of Canada raised their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.59.

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.