M&R Capital Management Inc. Has $67,000 Stock Position in Truist Financial Co. (NYSE:TFC)

M&R Capital Management Inc. lessened its stake in shares of Truist Financial Co. (NYSE:TFCFree Report) by 31.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,736 shares of the insurance provider’s stock after selling 794 shares during the quarter. M&R Capital Management Inc.’s holdings in Truist Financial were worth $67,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TFC. Norges Bank acquired a new position in Truist Financial in the 4th quarter worth about $307,787,000. Parnassus Investments LLC bought a new position in Truist Financial during the fourth quarter valued at approximately $95,049,000. North Reef Capital Management LP acquired a new stake in Truist Financial in the third quarter valued at approximately $66,804,000. Azora Capital LP bought a new stake in Truist Financial in the fourth quarter worth approximately $72,498,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 2.2 %

NYSE TFC opened at $36.57 on Wednesday. The stock has a market capitalization of $48.93 billion, a P/E ratio of -27.70, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average of $37.77 and a 200-day moving average of $36.98.

Truist Financial (NYSE:TFCGet Free Report) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the business earned $1.09 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.69%. Truist Financial’s payout ratio is presently -157.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TFC shares. Stephens lifted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. Evercore ISI reissued an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a report on Thursday, May 9th. Jefferies Financial Group boosted their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Barclays began coverage on Truist Financial in a report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.17.

View Our Latest Research Report on TFC

Truist Financial Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFCFree Report).

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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