Adapt Wealth Advisors LLC Grows Stock Holdings in Truist Financial Corporation (NYSE:TFC)

Adapt Wealth Advisors LLC increased its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 78.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,456 shares of the insurance provider's stock after buying an additional 9,021 shares during the quarter. Adapt Wealth Advisors LLC's holdings in Truist Financial were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC boosted its stake in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Truist Financial during the 4th quarter worth about $5,452,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Truist Financial during the 4th quarter worth about $247,000. Larson Financial Group LLC boosted its stake in shares of Truist Financial by 24.1% during the 4th quarter. Larson Financial Group LLC now owns 1,841 shares of the insurance provider's stock worth $80,000 after acquiring an additional 358 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Truist Financial by 127.7% during the 4th quarter. AlphaQuest LLC now owns 10,824 shares of the insurance provider's stock worth $470,000 after acquiring an additional 6,070 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Trading Up 0.4%

Shares of Truist Financial stock traded up $0.20 during trading on Friday, hitting $45.70. The company's stock had a trading volume of 4,569,827 shares, compared to its average volume of 8,305,577. The stock has a market cap of $59.85 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.68 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a 50-day moving average price of $40.98 and a two-hundred day moving average price of $42.01.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $0.90 EPS. Equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. Truist Financial's dividend payout ratio (DPR) is 61.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler decreased their price target on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. JPMorgan Chase & Co. cut their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company cut their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $48.44.

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.