Lantern Wealth Advisors LLC Increases Position in Truist Financial Co. (NYSE:TFC)

Lantern Wealth Advisors LLC increased its holdings in Truist Financial Co. (NYSE:TFC) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,473 shares of the insurance provider’s stock after buying an additional 412 shares during the quarter. Lantern Wealth Advisors LLC’s holdings in Truist Financial were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TFC. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new position in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $45,000. Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth about $55,000. Finally, TCTC Holdings LLC lifted its stake in Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after buying an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.0%

Shares of NYSE TFC opened at $41.41 on Tuesday. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $38.85 and its two-hundred day moving average is $43.22. The firm has a market cap of $54.23 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period in the prior year, the business earned $0.90 EPS. Research analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TFC shares. Piper Sandler lowered their price target on Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company lowered their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $47.83.

About Truist Financial

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.