Pallas Capital Advisors LLC Has $447,000 Stake in Truist Financial Co. (NYSE:TFC)

Pallas Capital Advisors LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 18.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 10,856 shares of the insurance provider’s stock after acquiring an additional 1,695 shares during the period. Pallas Capital Advisors LLC’s holdings in Truist Financial were worth $447,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TFC. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $26,000. Navigoe LLC bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $45,000. TCTC Holdings LLC raised its position in shares of Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 287 shares during the period. Finally, Pinney & Scofield Inc. bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $57,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Piper Sandler lowered their price objective on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Citigroup lowered their price objective on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Trading Down 0.8%

Shares of TFC stock opened at $39.92 on Friday. The company has a market cap of $52.28 billion, a P/E ratio of 11.99, a PEG ratio of 1.63 and a beta of 0.84. The stock has a 50 day simple moving average of $38.68 and a two-hundred day simple moving average of $42.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.21%. Truist Financial’s dividend payout ratio is currently 61.36%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services 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.