Mcrae Capital Management Inc. Has $15.59 Million Stock Holdings in Truist Financial Corporation $TFC

Mcrae Capital Management Inc. grew its position in Truist Financial Corporation (NYSE:TFC) by 4.6% during the 4th quarter, Holdings Channel reports. The firm owned 316,838 shares of the insurance provider’s stock after purchasing an additional 13,979 shares during the quarter. Truist Financial makes up about 3.2% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 15th biggest position. Mcrae Capital Management Inc.’s holdings in Truist Financial were worth $15,592,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TFC. Brighton Jones LLC lifted its position in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares in the last quarter. Woodline Partners LP lifted its position in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after buying an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Truist Financial during the 2nd quarter worth about $575,000. AXA S.A. lifted its position in Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after buying an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after buying an additional 1,134 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $47.51 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. Truist Financial Corporation has a 1 year low of $38.83 and a 1 year high of $56.19. The company has a market cap of $59.19 billion, a PE ratio of 11.79, a PEG ratio of 0.82 and a beta of 0.89. The company’s 50-day moving average is $48.47 and its two-hundred day moving average is $48.93.

Truist Financial (NYSE:TFC) last released its earnings results 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 net margin of 18.14% and a return on equity of 9.55%. The company 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 company posted $0.87 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. Truist Financial’s dividend payout ratio is presently 51.61%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Royal Bank Of Canada upped their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group restated a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently 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.