Apella Capital LLC Invests $277,000 in Truist Financial Co. (NYSE:TFC)

Apella Capital LLC acquired a new position in Truist Financial Co. (NYSE:TFC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,301 shares of the insurance provider's stock, valued at approximately $277,000.

Other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $26,000. Navigoe LLC acquired a new position in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter worth $45,000. TCTC Holdings LLC increased 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 worth $57,000 after buying an additional 287 shares during the last quarter. Finally, Pinney & Scofield Inc. acquired a new position in Truist Financial during the fourth quarter worth $57,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TFC. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Citigroup decreased their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Piper Sandler decreased their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Trading Up 0.2%

TFC opened at $39.59 on Friday. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a 50-day simple moving average of $38.43 and a 200 day simple moving average of $42.71. 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 stock has a market capitalization of $51.84 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.63 and a beta of 0.84.

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. 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 analysts' expectations of $4.99 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. Analysts predict 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. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.25%. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

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.

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