7,231 Shares in Truist Financial Co. (NYSE:TFC) Acquired by Heck Capital Advisors LLC

Heck Capital Advisors LLC bought a new stake in Truist Financial Co. (NYSE:TFC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,231 shares of the insurance provider's stock, valued at approximately $314,000.

Several other hedge funds have also bought and sold shares of TFC. Integrated Advisors Network LLC raised its holdings in shares of Truist Financial by 4.8% during the 4th quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider's stock valued at $274,000 after buying an additional 291 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Truist Financial during the fourth quarter worth approximately $22,558,000. Ameriflex Group Inc. purchased a new position in shares of Truist Financial during the fourth quarter worth approximately $91,000. Ascent Group LLC lifted its holdings in shares of Truist Financial by 318.4% in the 4th quarter. Ascent Group LLC now owns 20,578 shares of the insurance provider's stock worth $893,000 after acquiring an additional 15,660 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Truist Financial by 5.0% in the 4th quarter. Mackenzie Financial Corp now owns 120,535 shares of the insurance provider's stock valued at $5,229,000 after purchasing an additional 5,727 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.67 during midday trading on Wednesday, reaching $39.36. 8,109,159 shares of the company's stock traded hands, compared to its average volume of 8,277,360. The stock has a 50 day moving average of $38.68 and a 200 day moving average of $43.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $51.54 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued 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 company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.28%. Truist Financial's payout ratio is presently 61.36%.

Wall Street Analyst Weigh In

Several analysts have weighed in on TFC shares. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley cut their price target on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Piper Sandler cut their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.83.

About Truist Financial

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.