12,124 Shares in Truist Financial Co. (NYSE:TFC) Bought by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC acquired a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,124 shares of the insurance provider's stock, valued at approximately $499,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TFC. Hopwood Financial Services Inc. purchased a new position in Truist Financial during the fourth quarter valued at $26,000. Navigoe LLC purchased a new position in Truist Financial during the fourth quarter valued at $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter valued at $45,000. TCTC Holdings LLC lifted its holdings in Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after purchasing an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in Truist Financial during the fourth quarter valued at $57,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Truist Financial stock opened at $39.37 on Tuesday. The firm has a market cap of $51.56 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company's 50 day moving average is $38.86 and its two-hundred day moving average is $42.28.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the business earned $0.90 EPS. On average, research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is 61.36%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TFC shares. Keefe, Bruyette & Woods reduced their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company reduced their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Barclays reduced their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Argus set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of "Moderate Buy" and an average price target of $47.83.

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.

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