Avior Wealth Management LLC Buys 14,086 Shares of Truist Financial Corporation (NYSE:TFC)

Avior Wealth Management LLC boosted its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 224.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,375 shares of the insurance provider's stock after purchasing an additional 14,086 shares during the period. Avior Wealth Management LLC's holdings in Truist Financial were worth $838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Hopwood Financial Services Inc. purchased a new position in Truist Financial in the fourth quarter valued at about $26,000. Navigoe LLC purchased a new position in Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC purchased a new stake in Truist Financial in the fourth quarter worth $45,000. TCTC Holdings LLC raised its stake in shares of Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after buying an additional 287 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in shares of Truist Financial during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent research reports. Piper Sandler decreased their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Stephens cut their price objective on shares of 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 shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Raymond James Financial downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Argus set a $43.00 price target on Truist Financial in a research report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Stock Up 2.0%

TFC stock traded up $0.81 during midday trading on Monday, hitting $41.09. The stock had a trading volume of 7,217,335 shares, compared to its average volume of 8,279,314. The business has a 50-day moving average of $39.09 and a two-hundred day moving average of $42.09. 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 firm has a market cap of $53.81 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06.

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

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.06%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Truist Financial 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.