KLCM Advisors Inc. Increases Stock Position in Truist Financial Corporation $TFC

KLCM Advisors Inc. grew its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 6.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 353,458 shares of the insurance provider’s stock after buying an additional 19,875 shares during the period. Truist Financial makes up 1.4% of KLCM Advisors Inc.’s investment portfolio, making the stock its 17th largest position. KLCM Advisors Inc.’s holdings in Truist Financial were worth $16,248,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. 3Chopt Investment Partners LLC boosted its stake in Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Truist Financial by 2.4% during the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 194 shares during the last quarter. PCB Capital LLC boosted its position in shares of Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 198 shares in the last quarter. AlphaCore Capital LLC boosted its position in shares of Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 199 shares in the last quarter. Finally, CYBER HORNET ETFs LLC grew its stake in shares of Truist Financial by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after buying an additional 199 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TFC. Evercore reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Truist Financial in a research report on Monday. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Stephens began coverage on Truist Financial in a research note on Monday, June 15th. They issued an “overweight” rating and a $59.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Truist Financial currently has an average rating of “Hold” and an average target price of $54.47.

Truist Financial Stock Performance

TFC stock traded up $0.34 during midday trading on Friday, reaching $51.71. 6,037,025 shares of the company’s stock traded hands, compared to its average volume of 10,161,204. 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 52-week low of $40.78 and a 52-week high of $56.19. The stock has a market cap of $64.43 billion, a P/E ratio of 12.83, a PEG ratio of 0.90 and a beta of 0.89. The stock’s 50-day moving average is $49.18 and its 200 day moving average is $49.44.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter last year, the company posted $0.87 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that Truist Financial Corporation will post 4.51 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. Truist Financial’s dividend payout ratio is presently 51.61%.

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.