AXQ Capital LP Increases Stake in Truist Financial Co. (NYSE:TFC)

AXQ Capital LP grew its holdings in Truist Financial Co. (NYSE:TFC) by 45.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,077 shares of the insurance provider’s stock after acquiring an additional 3,128 shares during the period. AXQ Capital LP’s holdings in Truist Financial were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TFC. PBMares Wealth Management LLC grew its stake in Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after buying an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in shares of Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after buying an additional 227 shares in the last quarter. FWG Holdings LLC raised its holdings in Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 234 shares in the last quarter. Finally, Ignite Planners LLC lifted its stake in Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.2 %

TFC opened at $41.41 on Friday. The business has a 50 day moving average price of $45.12 and a two-hundred day moving average price of $44.45. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The company has a market cap of $54.05 billion, a PE ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. As a group, research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TFC shares. Compass Point increased their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and raised their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Morgan Stanley upped their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Company Profile

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.