O Shaughnessy Asset Management LLC Purchases 212,702 Shares of Truist Financial Corporation $TFC

O Shaughnessy Asset Management LLC grew its position in shares of Truist Financial Corporation (NYSE:TFC) by 25.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,040,616 shares of the insurance provider’s stock after acquiring an additional 212,702 shares during the period. O Shaughnessy Asset Management LLC owned about 0.08% of Truist Financial worth $51,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TFC. Maseco LLP raised its stake 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 last quarter. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Truist Financial by 190.7% during the fourth 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 during the last quarter. Ancora Advisors LLC raised its stake in shares of Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Bare Financial Services Inc raised its stake in shares of Truist Financial by 56.9% during the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 298 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its stake in shares of Truist Financial by 2,178.4% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 806 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Truist Financial Price Performance

Shares of TFC opened at $49.24 on Monday. The stock has a market cap of $61.35 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.84 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. Truist Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $56.19. The firm’s 50-day simple moving average is $48.63 and its two-hundred day simple moving average is $49.00.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm 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 business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. Analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio is currently 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.