&Partners Raises Position in Truist Financial Co. (NYSE:TFC)

&Partners raised its stake in Truist Financial Co. (NYSE:TFC) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,654 shares of the insurance provider’s stock after purchasing an additional 2,274 shares during the quarter. &Partners’ holdings in Truist Financial were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC grew its holdings in shares of Truist Financial by 11.2% in the third quarter. LPL Financial LLC now owns 2,601,119 shares of the insurance provider’s stock valued at $74,418,000 after acquiring an additional 261,104 shares in the last quarter. Mariner LLC grew its holdings in shares of Truist Financial by 24.8% in the third quarter. Mariner LLC now owns 332,955 shares of the insurance provider’s stock valued at $9,526,000 after acquiring an additional 66,069 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Truist Financial by 6.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 79,895 shares of the insurance provider’s stock valued at $2,286,000 after acquiring an additional 4,872 shares in the last quarter. rhino investment partners Inc grew its holdings in shares of Truist Financial by 19.0% in the third quarter. rhino investment partners Inc now owns 1,380,805 shares of the insurance provider’s stock valued at $39,505,000 after acquiring an additional 220,200 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Truist Financial by 5.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,396 shares of the insurance provider’s stock valued at $1,213,000 after acquiring an additional 2,020 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TFC has been the subject of several research reports. UBS Group increased their price objective on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Citigroup increased their price objective on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Barclays initiated coverage on Truist Financial in a report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price objective for the company. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Price Performance

Shares of TFC stock traded up $0.16 on Friday, reaching $36.79. The company’s stock had a trading volume of 9,627,219 shares, compared to its average volume of 6,088,120. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51. The company has a market capitalization of $49.23 billion, a P/E ratio of -27.87, a PEG ratio of 1.81 and a beta of 1.06. The stock’s 50 day simple moving average is $37.74 and its 200-day simple moving average is $37.02.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities analysts predict that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.65%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.