King Luther Capital Management Corp Acquires 154,900 Shares of Truist Financial Corporation $TFC

King Luther Capital Management Corp lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 64.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 393,688 shares of the insurance provider’s stock after buying an additional 154,900 shares during the quarter. King Luther Capital Management Corp’s holdings in Truist Financial were worth $19,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TFC. Wellington Management Group LLP grew its position in shares of Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after buying an additional 10,310,523 shares in the last quarter. American Assets Investment Management LLC grew its position in shares of Truist Financial by 781.3% during the 4th quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock worth $166,527,000 after buying an additional 3,000,000 shares in the last quarter. Azora Capital LP bought a new position in shares of Truist Financial during the 3rd quarter worth $115,417,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of Truist Financial by 164.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,308,054 shares of the insurance provider’s stock worth $105,490,000 after buying an additional 1,433,934 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Truist Financial by 71.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,165,033 shares of the insurance provider’s stock worth $136,065,000 after buying an additional 1,323,866 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $48.42 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market cap of $60.32 billion, a PE ratio of 12.01, a PEG ratio of 0.83 and a beta of 0.92. The business’s fifty day simple moving average is $48.13 and its 200-day simple moving average is $48.85. Truist Financial Corporation has a 12-month low of $38.67 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion during 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 company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. Analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, May 1st. Morgan Stanley decreased their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Evercore restated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Finally, Jefferies Financial Group restated 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.59.

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.