Hilltop Holdings Inc. Has $749,000 Stock Holdings in Truist Financial Corporation $TFC

Hilltop Holdings Inc. trimmed its stake in shares of Truist Financial Corporation (NYSE:TFC) by 45.3% in the first quarter, Holdings Channel.com reports. The fund owned 16,297 shares of the insurance provider’s stock after selling 13,497 shares during the quarter. Hilltop Holdings Inc.’s holdings in Truist Financial were worth $749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 3Chopt Investment Partners LLC increased its position in Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after purchasing an additional 193 shares during the period. IFP Advisors Inc boosted its stake in shares of Truist Financial by 2.4% in the 4th 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 stake 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 valued at $310,000 after purchasing an additional 198 shares during the last quarter. AlphaCore Capital LLC increased its position in shares of Truist Financial by 8.3% during the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after buying an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC raised its stake in Truist Financial by 5.5% during the fourth 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 owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $51.75 on Monday. The business has a 50-day simple moving average of $49.81 and a 200 day simple moving average of $49.56. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $64.48 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.94 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Truist Financial’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is 47.71%.

Wall Street Analyst Weigh In

TFC has been the topic of several recent analyst reports. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Stephens decreased their price target on Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Finally, Evercore reissued an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a research note on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.61.

Truist Financial Company 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.