Lighthouse Financial Services Inc. ADV Makes New Investment in Truist Financial Corporation $TFC

Lighthouse Financial Services Inc. ADV acquired a new position in Truist Financial Corporation (NYSE:TFC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,089 shares of the insurance provider’s stock, valued at approximately $693,000.

Other hedge funds also recently modified their holdings of the company. Independent Advisor Alliance raised its holdings in shares of Truist Financial by 9.7% in the 3rd quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider’s stock worth $15,046,000 after buying an additional 29,191 shares in the last quarter. Cullen Capital Management LLC raised its holdings in shares of Truist Financial by 10.3% in the 3rd quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider’s stock worth $209,936,000 after buying an additional 427,067 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Truist Financial by 18.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock worth $7,728,000 after buying an additional 26,530 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Truist Financial by 2.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider’s stock worth $19,285,000 after buying an additional 10,706 shares in the last quarter. Finally, Versor Investments LP raised its holdings in shares of Truist Financial by 64.4% in the 3rd quarter. Versor Investments LP now owns 25,008 shares of the insurance provider’s stock worth $1,143,000 after buying an additional 9,800 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 1.3%

NYSE:TFC opened at $49.09 on Friday. Truist Financial Corporation has a 12-month low of $38.27 and a 12-month high of $56.19. 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 firm has a market capitalization of $61.16 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 0.92. The stock’s fifty day simple moving average is $48.06 and its 200-day simple moving average is $48.48.

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

Truist Financial Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TFC shares. Evercore reissued an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Morgan Stanley dropped their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Piper Sandler lifted their price objective on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research report on Friday, April 17th. Finally, Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Friday, May 1st. Nine investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.