Fort Washington Investment Advisors Inc. OH Has $49.62 Million Position in Truist Financial Corporation $TFC

by · The Markets Daily

Fort Washington Investment Advisors Inc. OH lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 6.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,079,513 shares of the insurance provider’s stock after selling 71,098 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Truist Financial were worth $49,625,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Truist Financial in the fourth quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Truist Financial during the 4th quarter valued at $26,000. McMillan Office Inc. bought a new position in shares of Truist Financial during the 4th quarter valued at $31,000. Maseco LLP lifted its stake in shares of Truist Financial by 53.8% in the 4th 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 last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Truist Financial by 190.7% in the 4th 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 last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 0.4%

Shares of TFC stock opened at $50.48 on Friday. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19. The stock has a 50 day moving average of $49.17 and a 200-day moving average of $49.34. The firm has a market cap of $62.90 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the prior year, the firm earned $0.87 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Truist Financial Corporation will post 4.5 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Analyst Upgrades and Downgrades

Several research firms have commented on TFC. JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Morgan Stanley reduced their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Ten 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 stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.79.

Get Our Latest Analysis on TFC

About Truist Financial

(Free Report)

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.

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