Plato Investment Management Ltd Has $379,000 Holdings in Truist Financial Corporation $TFC

Plato Investment Management Ltd cut its stake in shares of Truist Financial Corporation (NYSE:TFC) by 70.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,660 shares of the insurance provider’s stock after selling 18,097 shares during the period. Plato Investment Management Ltd’s holdings in Truist Financial were worth $379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the third quarter valued at $28,000. Maseco LLP increased its holdings in Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its holdings in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares during the period. Ancora Advisors LLC increased its holdings in Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Finally, Quest 10 Wealth Builders Inc. increased its holdings in Truist Financial by 2,178.4% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 806 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased 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. Jefferies Financial Group restated a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Royal Bank Of Canada increased their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Piper Sandler increased their price objective on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Stock Performance

Shares of TFC opened at $47.96 on Tuesday. 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 stock has a market capitalization of $59.75 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.84 and a beta of 0.92. The firm’s fifty day simple moving average is $47.96 and its two-hundred day simple moving average is $48.54. Truist Financial Corporation has a 12 month low of $38.27 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Truist Financial’s dividend payout ratio is 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.