Moors & Cabot Inc. Has $2.40 Million Stock Holdings in Truist Financial Corporation $TFC

Moors & Cabot Inc. lessened its position in Truist Financial Corporation (NYSE:TFC) by 21.2% during the 4th quarter, Holdings Channel reports. The firm owned 48,842 shares of the insurance provider’s stock after selling 13,101 shares during the quarter. Moors & Cabot Inc.’s holdings in Truist Financial were worth $2,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TFC. Wellington Management Group LLP lifted its position in Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after buying an additional 10,310,523 shares in the last quarter. American Assets Investment Management LLC lifted its position in Truist Financial by 781.3% during the 4th quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock worth $166,527,000 after buying an additional 3,000,000 shares in the last quarter. Azora Capital LP acquired a new position in Truist Financial during the 3rd quarter worth about $115,417,000. Skandinaviska Enskilda Banken AB publ lifted its position in Truist Financial by 164.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,308,054 shares of the insurance provider’s stock worth $105,490,000 after buying an additional 1,433,934 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Truist Financial by 71.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,165,033 shares of the insurance provider’s stock worth $136,065,000 after buying an additional 1,323,866 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, May 1st. 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. Finally, Royal Bank Of Canada upped their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $48.12 on Friday. The stock has a market capitalization of $59.96 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.82 and a beta of 0.92. Truist Financial Corporation has a 1-year low of $38.67 and a 1-year high of $56.19. 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 business has a 50-day moving average price of $48.28 and a two-hundred day moving average price of $48.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. Equities analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s payout ratio is currently 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.