Truist Financial Corporation $TFC Shares Acquired by First Trust Advisors LP

First Trust Advisors LP lifted its stake in Truist Financial Corporation (NYSE:TFC) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,099,225 shares of the insurance provider’s stock after purchasing an additional 340,702 shares during the period. First Trust Advisors LP owned approximately 0.33% of Truist Financial worth $188,441,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new position in Truist Financial in the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $26,000. McMillan Office Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $31,000. Maseco LLP grew its holdings in shares of Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TFC. Robert W. Baird boosted their target price on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday. Evercore restated an “outperform” rating and set a $57.00 price target on shares of Truist Financial in a research note on Monday, July 6th. Royal Bank Of Canada increased their target price on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Bank of America reissued a “neutral” rating and issued a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $54.61.

Truist Financial Stock Performance

Shares of TFC stock opened at $51.73 on Thursday. The business has a 50 day simple moving average of $49.63 and a 200 day simple moving average of $49.54. The firm has a market capitalization of $64.45 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. Truist Financial’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, equities research analysts anticipate that Truist Financial Corporation will post 4.57 EPS for the current year.

Truist Financial Dividend Announcement

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 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is presently 47.71%.

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.