Advisortrust Partners LLC Acquires New Holdings in Truist Financial Corporation $TFC

Advisortrust Partners LLC acquired a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,430 shares of the insurance provider’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. 3Chopt Investment Partners LLC lifted its position 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 purchasing an additional 193 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Truist Financial by 2.4% during 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 during the last quarter. AlphaCore Capital LLC lifted 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 during the last quarter. CYBER HORNET ETFs LLC lifted 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 during the last quarter. Finally, Mindset Wealth Management LLC boosted its stake in shares of Truist Financial by 0.6% during the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TFC. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada raised their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Stephens started coverage on Truist Financial in a research report on Monday, June 15th. They issued an “overweight” rating and a $59.00 target price for the company. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.79.

Truist Financial Stock Performance

NYSE TFC opened at $48.33 on Friday. The company has a fifty day moving average price of $49.16 and a 200-day moving average price of $49.24. The firm has a market cap of $60.21 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.83 and a beta of 0.89. 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 $39.94 and a 1 year high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the firm earned $0.87 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Truist Financial Corporation will post 4.5 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared 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 4.3%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) 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.