Good Steward Wealth Advisors LLC Acquires New Position in Truist Financial Corporation (NYSE:TFC)

Good Steward Wealth Advisors LLC purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,992 shares of the insurance provider's stock, valued at approximately $411,000.

Other large investors also recently modified their holdings of the company. FWG Holdings LLC increased its stake in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after buying an additional 234 shares during the period. Nwam LLC increased its stake in shares of Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock valued at $364,000 after acquiring an additional 263 shares during the period. TIAA Trust National Association increased its stake in shares of Truist Financial by 1.2% during the fourth quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after acquiring an additional 283 shares during the period. TCTC Holdings LLC increased its stake in shares of 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 acquiring an additional 287 shares during the period. Finally, Meeder Advisory Services Inc. increased its position in shares of Truist Financial by 1.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock valued at $1,231,000 after purchasing an additional 288 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 1.1%

NYSE TFC traded up $0.44 on Friday, hitting $40.25. 10,237,762 shares of the stock were exchanged, compared to its average volume of 8,288,955. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $52.71 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.48 and a beta of 0.84. The company's 50-day moving average price is $39.09 and its two-hundred day moving average price is $42.15.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period in the previous year, the company posted $0.90 EPS. Research analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.17%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several research analyst reports. Raymond James Financial cut Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Piper Sandler lowered their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, TD Cowen began coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective on the stock. Nine equities research 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.