Brandes Investment Partners LP Has $39.51 Million Position in Truist Financial Corporation $TFC

Brandes Investment Partners LP grew its stake in Truist Financial Corporation (NYSE:TFC) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 802,907 shares of the insurance provider’s stock after buying an additional 21,305 shares during the quarter. Brandes Investment Partners LP’s holdings in Truist Financial were worth $39,511,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. 3Chopt Investment Partners LLC boosted its stake in shares of Truist Financial by 1.3% in the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after purchasing an additional 193 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 194 shares in the last quarter. AlphaCore Capital LLC boosted its stake in shares of Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 199 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in shares of Truist Financial by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 199 shares in the last quarter. Finally, Advocacy Wealth Management LLC boosted its stake in shares of Truist Financial by 1.4% in the 4th quarter. Advocacy Wealth Management LLC now owns 14,922 shares of the insurance provider’s stock valued at $734,000 after purchasing an additional 202 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Up 1.1%

Shares of NYSE TFC opened at $49.37 on Wednesday. The company has a 50 day simple moving average of $48.80 and a 200 day simple moving average of $49.07. The firm has a market cap of $61.51 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. Truist Financial Corporation has a 1 year low of $38.83 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. On average, research analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. 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 note on Tuesday, April 7th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Royal Bank Of Canada raised their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $55.59.

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.