Interval Partners LP Has $26.33 Million Position in Truist Financial Corporation $TFC

Interval Partners LP grew its holdings in Truist Financial Corporation (NYSE:TFC) by 125.4% during the 4th quarter, HoldingsChannel reports. The firm owned 534,985 shares of the insurance provider’s stock after acquiring an additional 297,610 shares during the quarter. Interval Partners LP’s holdings in Truist Financial were worth $26,327,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in TFC. Kemnay Advisory Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. McMillan Office Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $31,000. Ancora Advisors LLC grew its position in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Finally, Maseco LLP grew its position in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Down 1.9%

TFC stock opened at $48.17 on Thursday. Truist Financial Corporation has a twelve month low of $38.94 and a twelve month high of $56.19. The company has a market cap of $60.02 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The business’s 50-day simple moving average is $49.18 and its 200 day simple moving average is $49.23. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.18 billion. During the same period last year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that Truist Financial Corporation will post 4.5 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s payout ratio is presently 51.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TFC shares. Morgan Stanley lowered their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. JPMorgan Chase & Co. decreased their target price on 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 downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Royal Bank Of Canada lifted their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Finally, Stephens began coverage on Truist Financial in a research report on Monday. They set an “overweight” rating and a $59.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.79.

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.