Old North State Trust LLC Boosts Holdings in Truist Financial Corporation $TFC

Old North State Trust LLC boosted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 133.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,483 shares of the insurance provider’s stock after purchasing an additional 28,279 shares during the period. Truist Financial makes up approximately 1.4% of Old North State Trust LLC’s portfolio, making the stock its 12th biggest holding. Old North State Trust LLC’s holdings in Truist Financial were worth $2,435,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. 3Chopt Investment Partners LLC raised its position in shares of 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 last quarter. IFP Advisors Inc boosted its holdings in Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after buying an additional 194 shares during the last quarter. AlphaCore Capital LLC boosted its holdings in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after buying an additional 199 shares during the last quarter. CYBER HORNET ETFs LLC increased its stake in Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after buying an additional 199 shares in the last quarter. Finally, Mindset Wealth Management LLC increased its stake in Truist Financial by 0.6% during the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $48.33 on Friday. 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 firm has a market capitalization of $60.21 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.83 and a beta of 0.89. The company’s 50-day moving average is $49.16 and its two-hundred day moving average is $49.24. Truist Financial Corporation has a 1-year low of $39.94 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter last year, the firm earned $0.87 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Analysts forecast that Truist Financial Corporation will post 4.5 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TFC. Morgan Stanley decreased their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday. JPMorgan Chase & Co. dropped their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.79.

Truist Financial Company 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.