J.W. Cole Advisors Inc. Cuts Position in Truist Financial Corporation $TFC

J.W. Cole Advisors Inc. lessened its holdings in Truist Financial Corporation (NYSE:TFC) by 26.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,226 shares of the insurance provider’s stock after selling 19,047 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Truist Financial were worth $2,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maseco LLP grew its holdings in Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. Ancora Advisors LLC grew its holdings in Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares during the period. Bare Financial Services Inc grew its holdings in Truist Financial by 56.9% in the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 298 shares during the period. Finally, Quest 10 Wealth Builders Inc. grew its holdings in Truist Financial by 2,178.4% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 806 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.1%

Shares of Truist Financial stock opened at $49.24 on Monday. The company has a market cap of $61.35 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The company’s 50 day moving average is $48.63 and its 200 day moving average is $49.00. Truist Financial Corporation has a twelve month low of $38.83 and a twelve month high of $56.19. 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 (NYSE:TFC) last issued its quarterly earnings data 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. The company had revenue of $5.20 billion for 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 firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TFC shares. Morgan Stanley cut their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

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.