Park Place Capital Corp Has $603,000 Position in Truist Financial Co. (NYSE:TFC)

Park Place Capital Corp lessened its position in Truist Financial Co. (NYSE:TFC) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,468 shares of the insurance provider’s stock after selling 1,370 shares during the period. Park Place Capital Corp’s holdings in Truist Financial were worth $603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Truist Financial in the 1st quarter worth about $29,000. Missouri Trust & Investment Co grew its position in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at about $32,000. Morton Brown Family Wealth LLC grew its position in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Truist Financial in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. Citigroup upped their price target on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Wells Fargo & Company upped their price target on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Morgan Stanley restated an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 22nd. Finally, HSBC upped their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Stock Up 1.0 %

Shares of NYSE:TFC opened at $39.25 on Tuesday. The business’s 50 day simple moving average is $37.89 and its two-hundred day simple moving average is $37.16. The firm has a market cap of $52.52 billion, a P/E ratio of -29.73, a PEG ratio of 2.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, research analysts forecast that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.30%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Truist Financial 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.