Atlantic Union Bankshares Corp Acquires 17,054 Shares of Truist Financial Corporation (NYSE:TFC)

Atlantic Union Bankshares Corp raised its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 33.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 68,675 shares of the insurance provider's stock after purchasing an additional 17,054 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Truist Financial were worth $2,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TFC. TIAA Trust National Association boosted its holdings in shares of Truist Financial by 1.2% during the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock worth $1,033,000 after buying an additional 283 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in 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 acquiring an additional 288 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in 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 acquiring an additional 291 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its stake 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 acquiring an additional 305 shares in the last quarter. Finally, Poehling Capital Management INC. lifted its stake in Truist Financial by 0.6% during the 4th quarter. Poehling Capital Management INC. now owns 51,201 shares of the insurance provider's stock valued at $2,221,000 after acquiring an additional 307 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

TFC has been the subject of several research analyst reports. Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research report on Tuesday, July 8th. Stephens reduced their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. TD Cowen assumed coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 target price for the company. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.65.

Truist Financial Stock Performance

TFC traded down $0.03 on Thursday, hitting $45.79. 2,158,819 shares of the company traded hands, compared to its average volume of 8,793,041. The stock has a market capitalization of $59.97 billion, a PE ratio of 12.48, a PEG ratio of 1.69 and a beta of 0.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $41.91 and a 200-day moving average of $42.09. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the firm posted $0.91 EPS. The firm's revenue for the quarter was down 406.0% on a year-over-year basis. Sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.54%. Truist Financial's payout ratio is 56.68%.

Truist Financial Company Profile

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.