Koshinski Asset Management Inc. lessened its stake in Truist Financial Co. (NYSE:TFC – Get Rating) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,083 shares of the insurance provider’s stock after selling 567 shares during the period. Koshinski Asset Management Inc.’s holdings in Truist Financial were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of TFC. Fairfield Bush & CO. acquired a new position in Truist Financial in the first quarter valued at $25,000. Carolina Wealth Advisors LLC acquired a new position in Truist Financial in the first quarter valued at $26,000. Cyrus J. Lawrence LLC acquired a new position in Truist Financial in the first quarter valued at $27,000. Swaine & Leidel Wealth Services LLC purchased a new stake in shares of Truist Financial in the first quarter valued at about $27,000. Finally, Delos Wealth Advisors LLC raised its holdings in shares of Truist Financial by 108.9% in the fourth quarter. Delos Wealth Advisors LLC now owns 518 shares of the insurance provider’s stock valued at $30,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.
Analysts Set New Price Targets
TFC has been the subject of a number of research reports. Wolfe Research reduced their target price on shares of Truist Financial from $57.00 to $41.00 and set an “underperform” rating for the company in a report on Thursday, May 26th. StockNews.com raised shares of Truist Financial from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup reduced their target price on shares of Truist Financial from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, July 12th. Credit Suisse Group reduced their target price on shares of Truist Financial to $52.00 in a report on Friday, July 22nd. Finally, Jefferies Financial Group reduced their target price on shares of Truist Financial from $56.00 to $51.00 in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $57.63.
Truist Financial Trading Down 2.6 %
Shares of Truist Financial stock opened at $44.80 on Friday. Truist Financial Co. has a 12-month low of $44.68 and a 12-month high of $68.95. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54. The stock has a market cap of $59.42 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The company has a 50-day moving average of $48.74 and a two-hundred day moving average of $50.20.
Truist Financial (NYSE:TFC – Get Rating) last issued its earnings results on Tuesday, July 19th. The insurance provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Truist Financial had a net margin of 27.25% and a return on equity of 12.14%. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the company posted $1.55 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that Truist Financial Co. will post 5 EPS for the current fiscal year.
Truist Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a $0.52 dividend. The ex-dividend date was Thursday, August 11th. This is a positive change from Truist Financial’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a dividend yield of 4.64%. Truist Financial’s dividend payout ratio is currently 47.17%.
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.
- Get a free copy of the StockNews.com research report on Truist Financial (TFC)
- The Institutions Hold On To Darden Restaurants International
- What Steelcase’s Earnings Say About the Return to the Office?
- These 3 Big Dividend Payers Also Boast Strong Price Growth
- Is The Golden Age Of Homebuilding Already Over?
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.