Naples Global Advisors LLC Has $593,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Naples Global Advisors LLC grew its stake in Truist Financial Co. (NYSE:TFC) by 3.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,420 shares of the insurance provider’s stock after buying an additional 468 shares during the period. Naples Global Advisors LLC’s holdings in Truist Financial were worth $593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. Navigoe LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $45,000. TCTC Holdings LLC increased its stake 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 buying an additional 287 shares during the period. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 2.6%

Shares of Truist Financial stock opened at $40.66 on Friday. 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 52 week low of $33.56 and a 52 week high of $49.06. The stock has a 50 day moving average price of $38.43 and a two-hundred day moving average price of $42.67. The stock has a market capitalization of $53.25 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84.

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. As a group, equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.12%. Truist Financial’s dividend payout ratio is presently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent research reports. Citigroup decreased their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Barclays decreased their target price on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Argus set a $43.00 target price on Truist Financial in a research note on Monday, April 21st. Finally, Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

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.