Churchill Financial Advisors LLC Purchases Shares of 12,511 Truist Financial Corporation $TFC

Churchill Financial Advisors LLC purchased a new stake in Truist Financial Corporation (NYSE:TFC) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 12,511 shares of the insurance provider’s stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TFC. Wellington Management Group LLP lifted its holdings in Truist Financial by 13,511.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after acquiring an additional 10,310,523 shares during the last quarter. American Assets Investment Management LLC lifted its stake in Truist Financial by 781.3% during the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock valued at $166,527,000 after buying an additional 3,000,000 shares in the last quarter. Azora Capital LP purchased a new stake in Truist Financial during the third quarter valued at about $115,417,000. Skandinaviska Enskilda Banken AB publ lifted its stake in Truist Financial by 164.0% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,308,054 shares of the insurance provider’s stock valued at $105,490,000 after buying an additional 1,433,934 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Truist Financial by 71.9% during the second quarter. AQR Capital Management LLC now owns 3,165,033 shares of the insurance provider’s stock valued at $136,065,000 after buying an additional 1,323,866 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Morgan Stanley reduced their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their price objective 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 upped 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. Finally, Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a research note on Friday, April 17th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Price Performance

Shares of TFC opened at $48.45 on Monday. The company has a market capitalization of $60.37 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 0.83 and a beta of 0.92. Truist Financial Corporation has a fifty-two week low of $38.27 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average is $47.87 and its 200-day moving average is $48.75.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Equities research analysts expect that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio is currently 51.61%.

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.