Brooklyn Investment Group Boosts Holdings in Truist Financial Corporation $TFC

Brooklyn Investment Group grew its holdings in Truist Financial Corporation (NYSE:TFC) by 39.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,568 shares of the insurance provider’s stock after purchasing an additional 1,003 shares during the quarter. Brooklyn Investment Group’s holdings in Truist Financial were worth $147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares during the last quarter. MML Investors Services LLC lifted its stake in Truist Financial by 1.0% in the fourth quarter. MML Investors Services LLC now owns 281,501 shares of the insurance provider’s stock worth $12,212,000 after acquiring an additional 2,910 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Truist Financial by 45.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,183 shares of the insurance provider’s stock worth $138,000 after acquiring an additional 994 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Truist Financial by 2.1% in the fourth quarter. OneDigital Investment Advisors LLC now owns 33,906 shares of the insurance provider’s stock worth $1,471,000 after acquiring an additional 697 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its stake in Truist Financial by 2.2% in the fourth quarter. IHT Wealth Management LLC now owns 15,792 shares of the insurance provider’s stock worth $685,000 after acquiring an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. TD Cowen assumed coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a “hold” rating and a $44.00 price target for the company. Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a report on Wednesday, July 9th. Finally, Morgan Stanley reissued a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.65.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider directly owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by insiders.

Truist Financial Stock Up 0.6%

TFC stock opened at $44.4280 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company’s 50 day moving average is $43.54 and its two-hundred day moving average is $41.84. The stock has a market cap of $57.29 billion, a P/E ratio of 12.11, a PEG ratio of 1.65 and a beta of 0.87.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business’s revenue was down 406.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, August 8th. Truist Financial’s payout ratio is presently 56.68%.

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.