Lake Street Financial LLC Has $643,000 Stake in Truist Financial Co. (NYSE:TFC)

Lake Street Financial LLC raised its stake in Truist Financial Co. (NYSE:TFCGet Rating) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,336 shares of the insurance provider’s stock after buying an additional 598 shares during the quarter. Lake Street Financial LLC’s holdings in Truist Financial were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Brown Advisory Inc. lifted its stake in Truist Financial by 1.0% in the first quarter. Brown Advisory Inc. now owns 171,196 shares of the insurance provider’s stock valued at $9,801,000 after buying an additional 1,703 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Truist Financial by 7.0% during the first quarter. Checchi Capital Advisers LLC now owns 11,764 shares of the insurance provider’s stock worth $667,000 after purchasing an additional 765 shares during the period. SeaBridge Investment Advisors LLC raised its position in shares of Truist Financial by 2.3% during the first quarter. SeaBridge Investment Advisors LLC now owns 16,896 shares of the insurance provider’s stock worth $958,000 after purchasing an additional 377 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Truist Financial by 12.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 680,784 shares of the insurance provider’s stock worth $38,600,000 after purchasing an additional 73,195 shares during the period. Finally, Summit Asset Management LLC raised its position in shares of Truist Financial by 3.7% during the first quarter. Summit Asset Management LLC now owns 10,579 shares of the insurance provider’s stock worth $600,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research analyst reports. Wolfe Research dropped their price target on Truist Financial from $57.00 to $41.00 and set an “underperform” rating on the stock in a research report on Thursday, May 26th. Jefferies Financial Group dropped their price target on Truist Financial from $56.00 to $51.00 in a research report on Monday, July 11th. Credit Suisse Group dropped their target price on Truist Financial to $52.00 in a research report on Friday, July 22nd. Citigroup dropped their target price on Truist Financial from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Finally, StockNews.com lowered Truist Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.58.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $50.10 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54. Truist Financial Co. has a 12 month low of $44.68 and a 12 month high of $68.95. The stock has a 50 day moving average of $48.14 and a 200-day moving average of $53.49. The company has a market capitalization of $66.45 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.15 and a beta of 1.12.

Truist Financial (NYSE:TFCGet Rating) last issued its earnings results on Tuesday, July 19th. The insurance provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. Truist Financial had a return on equity of 12.14% and a net margin of 27.25%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the company posted $1.55 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts predict that Truist Financial Co. will post 4.96 EPS for the current year.

Truist Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be issued a dividend of $0.52 per share. This is a boost from Truist Financial’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, August 11th. Truist Financial’s dividend payout ratio (DPR) is presently 43.54%.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. sold 142,606 shares of Truist Financial stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $47.78, for a total transaction of $6,813,714.68. Following the completion of the sale, the chief executive officer now directly owns 862,590 shares of the company’s stock, valued at approximately $41,214,550.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

Truist Financial Profile

(Get Rating)

Truist Financial Corporation, a holding 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.

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

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