Truist Financial Corporation $TFC Shares Acquired by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 35.7% during the 4th quarter, Holdings Channel reports. The firm owned 120,811 shares of the insurance provider’s stock after buying an additional 31,767 shares during the period. Motley Fool Asset Management LLC’s holdings in Truist Financial were worth $5,945,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. grew its stake in shares of Truist Financial by 18.6% in the third quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock worth $7,728,000 after acquiring an additional 26,530 shares in the last quarter. Versor Investments LP grew its stake in shares of Truist Financial by 64.4% in the third quarter. Versor Investments LP now owns 25,008 shares of the insurance provider’s stock worth $1,143,000 after acquiring an additional 9,800 shares in the last quarter. Cibc World Market Inc. grew its stake in shares of Truist Financial by 17.2% in the third quarter. Cibc World Market Inc. now owns 174,041 shares of the insurance provider’s stock worth $7,957,000 after acquiring an additional 25,590 shares in the last quarter. Edgemoor Investment Advisors Inc. acquired a new position in shares of Truist Financial in the third quarter worth $1,061,000. Finally, Pinnacle Financial Partners Inc. grew its stake in shares of Truist Financial by 30.0% in the third quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after acquiring an additional 40,393 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TFC. JPMorgan Chase & Co. dropped their price target 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 shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Morgan Stanley lowered their target price 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. Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Stock Performance

Shares of TFC stock opened at $49.37 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $48.80 and a 200 day moving average price of $49.07. The company has a market cap of $61.51 billion, a P/E ratio of 12.25, a PEG ratio of 0.84 and a beta of 0.89. Truist Financial Corporation has a 12 month low of $38.83 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm 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 previous year, the firm posted $0.87 earnings per share. Sell-side analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s payout ratio is 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.