Los Angeles Capital Management LLC Decreases Holdings in Truist Financial Corporation $TFC

Los Angeles Capital Management LLC trimmed its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,016,874 shares of the insurance provider’s stock after selling 14,583 shares during the period. Los Angeles Capital Management LLC owned 0.08% of Truist Financial worth $50,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. 3Chopt Investment Partners LLC boosted its position in Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after purchasing an additional 193 shares during the period. IFP Advisors Inc boosted its stake in shares of Truist Financial by 2.4% in the fourth 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 during the period. AlphaCore Capital LLC boosted its stake in shares of Truist Financial by 8.3% in the fourth 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 during the period. CYBER HORNET ETFs LLC boosted its stake in shares of Truist Financial by 5.5% in the fourth 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 during the period. Finally, Alliance Wealth Advisors LLC boosted its stake in shares of Truist Financial by 1.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock valued at $556,000 after purchasing an additional 205 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TFC shares. 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. JPMorgan Chase & Co. decreased their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their price objective 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. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a research note on Friday, April 17th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Stock Up 0.1%

TFC stock opened at $49.24 on Friday. Truist Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $56.19. The stock has a market cap of $61.35 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The firm’s 50-day simple moving average is $48.63 and its 200 day simple moving average is $48.97. 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 posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating 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 firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period last year, the firm earned $0.87 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

About Truist Financial

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.