Truist Financial Corporation $TFC Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH cut its stake in shares of Truist Financial Corporation (NYSE:TFC) by 6.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,079,513 shares of the insurance provider’s stock after selling 71,098 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.09% of Truist Financial worth $49,625,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new stake in Truist Financial during the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in shares of Truist Financial in the fourth quarter worth approximately $26,000. McMillan Office Inc. acquired a new stake in shares of Truist Financial during the fourth quarter valued at approximately $31,000. Maseco LLP raised its holdings in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $50.48 on Friday. The company has a market capitalization of $62.90 billion, a PE ratio of 12.53, a PEG ratio of 0.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50 day moving average price is $49.17 and its 200 day moving average price is $49.34. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. Research analysts expect that Truist Financial Corporation will post 4.5 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Analyst Ratings Changes

A number of equities analysts recently commented on TFC shares. JPMorgan Chase & Co. decreased their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Stephens initiated coverage on Truist Financial in a research report on Monday, June 15th. They set an “overweight” rating and a $59.00 price target on the stock. Ten equities 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $55.79.

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.