Smith Chas P & Associates PA Cpas Has $837,000 Stock Holdings in Truist Financial Corporation $TFC

Smith Chas P & Associates PA Cpas lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 212.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,005 shares of the insurance provider’s stock after buying an additional 11,556 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Truist Financial were worth $837,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the 3rd quarter valued at about $28,000. Maseco LLP lifted its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its stake in 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 purchasing an additional 431 shares during the last quarter. Ancora Advisors LLC lifted its stake in Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Finally, Bare Financial Services Inc lifted its stake in Truist Financial by 56.9% in the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 298 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFC has been the subject of several recent analyst reports. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Friday, May 1st. 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 note on Monday, April 20th. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Finally, Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Stock Down 0.5%

Truist Financial stock opened at $48.42 on Thursday. The stock has a market cap of $60.32 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.83 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $38.67 and a twelve month high of $56.19. The company’s 50-day moving average price is $48.13 and its two-hundred day moving average price is $48.85.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.18 billion. During the same period last year, the firm 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 expect that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

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.