Thrivent Financial for Lutherans Boosts Position in Truist Financial Corporation $TFC

Thrivent Financial for Lutherans boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,412 shares of the insurance provider’s stock after acquiring an additional 20,340 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Truist Financial were worth $3,961,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TFC. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the third quarter valued at $28,000. Maseco LLP increased its position in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares during the last quarter. Ancora Advisors LLC grew its holdings in Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Finally, Quest 10 Wealth Builders Inc. grew its holdings in Truist Financial by 2,178.4% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 806 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 1.2%

Shares of TFC stock opened at $48.45 on Friday. Truist Financial Corporation has a 1 year low of $38.27 and a 1 year 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 stock’s 50 day simple moving average is $47.87 and its two-hundred day simple moving average is $48.72. The company has a market cap of $60.37 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92.

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

Truist Financial Announces Dividend

The firm also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio is presently 51.61%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Friday, May 1st. Morgan Stanley cut their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.