Alpha Omega Wealth Management LLC Sells 9,320 Shares of Truist Financial Co. (NYSE:TFC)

Alpha Omega Wealth Management LLC decreased its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,032 shares of the insurance provider's stock after selling 9,320 shares during the quarter. Truist Financial makes up approximately 1.3% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 21st biggest position. Alpha Omega Wealth Management LLC's holdings in Truist Financial were worth $6,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McKinley Carter Wealth Services Inc. increased its position in Truist Financial by 1.6% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 19,657 shares of the insurance provider's stock valued at $809,000 after purchasing an additional 305 shares during the period. My Legacy Advisors LLC raised its position in shares of Truist Financial by 15.9% during the first quarter. My Legacy Advisors LLC now owns 15,485 shares of the insurance provider's stock worth $637,000 after purchasing an additional 2,124 shares during the period. Assenagon Asset Management S.A. raised its holdings in Truist Financial by 610.8% during the first quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider's stock worth $109,537,000 after buying an additional 2,287,410 shares during the last quarter. Integrated Advisors Network LLC lifted its position in Truist Financial by 806.6% in the 1st quarter. Integrated Advisors Network LLC now owns 57,264 shares of the insurance provider's stock valued at $2,356,000 after acquiring an additional 50,948 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Truist Financial by 0.5% during the first quarter. Handelsbanken Fonder AB now owns 328,093 shares of the insurance provider's stock valued at $13,501,000 after buying an additional 1,709 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Trading Down 1.0%

Shares of TFC traded down $0.42 during mid-day trading on Thursday, reaching $39.84. The company's stock had a trading volume of 2,892,168 shares, compared to its average volume of 8,273,180. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a market cap of $52.17 billion, a PE ratio of 11.96, a P/E/G ratio of 1.63 and a beta of 0.84. The company's fifty day moving average price is $38.59 and its two-hundred day moving average price is $42.53. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

Analysts Set New Price Targets

Several research firms have weighed in on TFC. 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. Barclays decreased their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and upped their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Stephens reduced their price objective on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Nine investment 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's stock. According to MarketBeat.com, Truist Financial presently has an average 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.