10,763 Shares in Truist Financial Corporation $TFC Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management acquired a new position in Truist Financial Corporation (NYSE:TFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,763 shares of the insurance provider’s stock, valued at approximately $530,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC grew its position in shares of Truist Financial by 77.2% during the 4th quarter. Axxcess Wealth Management LLC now owns 158,394 shares of the insurance provider’s stock valued at $7,795,000 after acquiring an additional 68,990 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Truist Financial by 19.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 765,286 shares of the insurance provider’s stock worth $37,660,000 after purchasing an additional 126,850 shares during the period. Commonwealth Financial Services LLC purchased a new position in Truist Financial in the fourth quarter valued at approximately $283,000. Heritage Investors Management Corp grew its holdings in Truist Financial by 12.7% during the fourth quarter. Heritage Investors Management Corp now owns 13,273 shares of the insurance provider’s stock valued at $653,000 after purchasing an additional 1,498 shares during the period. Finally, Bare Financial Services Inc grew its holdings in 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 purchasing an additional 298 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE:TFC opened at $48.45 on Friday. The business’s fifty day moving average is $47.87 and its 200 day moving average is $48.72. The firm has a market cap of $60.37 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.82 and a beta of 0.92. 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 52-week low of $38.27 and a 52-week 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 the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter last year, the company earned $0.87 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Research analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid 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 yield of 4.3%. Truist Financial’s payout ratio is currently 51.61%.

Analyst Ratings Changes

Several brokerages have issued reports on TFC. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Argus lifted their price objective on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Morgan Stanley dropped 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. Robert W. Baird lowered 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 report on Friday, May 1st. Finally, Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday. 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 stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $55.59.

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.