Hilton Head Capital Partners LLC Makes New $2.03 Million Investment in Truist Financial Corporation $TFC

Hilton Head Capital Partners LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 41,249 shares of the insurance provider’s stock, valued at approximately $2,030,000. Truist Financial comprises approximately 1.2% of Hilton Head Capital Partners LLC’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Syon Capital LLC lifted its stake in Truist Financial by 21.0% during the fourth quarter. Syon Capital LLC now owns 15,353 shares of the insurance provider’s stock worth $756,000 after purchasing an additional 2,662 shares during the last quarter. Capital International Inc. CA lifted its stake in Truist Financial by 0.5% during the fourth quarter. Capital International Inc. CA now owns 1,432,928 shares of the insurance provider’s stock worth $70,514,000 after purchasing an additional 7,625 shares during the last quarter. Capital International Investors lifted its stake in Truist Financial by 0.7% during the fourth quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after purchasing an additional 715,433 shares during the last quarter. Pinebridge Investments LLC bought a new stake in Truist Financial during the fourth quarter worth about $26,243,000. Finally, WINTON GROUP Ltd bought a new stake in Truist Financial during the fourth quarter worth about $3,469,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $49.24 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average price is $48.63 and its 200-day moving average price is $49.00. Truist Financial Corporation has a 52 week low of $38.83 and a 52 week high of $56.19. The stock has a market cap of $61.35 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.84 and a beta of 0.89.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio is 51.61%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TFC shares. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. decreased their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. 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 report on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target 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.