New Hampshire Trust raised its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,841 shares of the insurance provider’s stock after acquiring an additional 608 shares during the quarter. New Hampshire Trust’s holdings in Truist Financial were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Fairfield Bush & CO. acquired a new stake in Truist Financial in the 1st quarter valued at about $25,000. United Bank increased its position in Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after acquiring an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. increased its position in Truist Financial by 33.3% in the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after acquiring an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Truist Financial by 3.3% during the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after buying an additional 738 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Truist Financial by 8.1% during the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after buying an additional 4,234 shares during the period. Institutional investors and hedge funds own 71.11% of the company’s stock.
Analyst Ratings Changes
TFC has been the subject of several analyst reports. Stephens lowered their price target on shares of Truist Financial from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Monday, July 24th. Jefferies Financial Group cut shares of Truist Financial from a “buy” rating to a “hold” rating and lowered their price target for the stock from $37.00 to $32.00 in a research report on Tuesday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of Truist Financial in a research report on Tuesday, September 12th. Morgan Stanley lowered their price target on shares of Truist Financial from $42.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, July 21st. Finally, Odeon Capital Group cut shares of Truist Financial from a “buy” rating to a “hold” rating and set a $32.75 price target for the company. in a research report on Friday, June 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.83.
Truist Financial Stock Down 1.4 %
TFC traded down $0.42 during trading on Friday, reaching $29.00. The company had a trading volume of 21,392,136 shares, compared to its average volume of 9,271,370. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.82. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $53.34. The business’s fifty day moving average price is $31.19 and its 200 day moving average price is $32.03. The company has a market cap of $38.63 billion, a P/E ratio of 6.71, a PEG ratio of 1.74 and a beta of 1.05.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.92 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.08). Truist Financial had a return on equity of 11.73% and a net margin of 20.17%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Co. will post 3.78 EPS for the current year.
Truist Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.17%. The ex-dividend date was Thursday, August 10th. Truist Financial’s payout ratio is 48.15%.
About Truist Financial
Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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