Sequoia Financial Advisors LLC Boosts Stock Position in Truist Financial Corporation $TFC

Sequoia Financial Advisors LLC lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,118 shares of the insurance provider’s stock after purchasing an additional 22,001 shares during the period. Sequoia Financial Advisors LLC’s holdings in Truist Financial were worth $3,204,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Truist Financial by 39.5% during the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after acquiring an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Truist Financial during the second quarter valued at approximately $575,000. AXA S.A. raised its holdings in shares of Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after acquiring an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Truist Financial by 20.1% during the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 1,134 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

TFC opened at $49.09 on Friday. The stock has a fifty day simple moving average of $48.06 and a two-hundred day simple moving average of $48.48. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market cap of $61.16 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.84 and a beta of 0.92. Truist Financial Corporation has a 12-month low of $38.27 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. Research analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio is 51.61%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group restated a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. JPMorgan Chase & Co. decreased their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. TD Cowen upped their target price on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Piper Sandler upped their target price on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Finally, Argus upped their target price on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

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.