Capital Investment Advisors LLC Grows Stake in Truist Financial Co. (NYSE:TFC)

Capital Investment Advisors LLC raised its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,581 shares of the insurance provider's stock after acquiring an additional 6,168 shares during the quarter. Capital Investment Advisors LLC's holdings in Truist Financial were worth $1,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 about $26,000. Curio Wealth LLC purchased a new position in Truist Financial in the fourth quarter valued at about $45,000. TCTC Holdings LLC boosted its stake in 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 acquiring an additional 287 shares during the last quarter. Finally, Pinney & Scofield Inc. bought a new stake in shares of Truist Financial in the fourth quarter valued at approximately $57,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. lowered their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company lowered their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Piper Sandler lowered their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Stock Performance

Truist Financial stock opened at $40.66 on Monday. The firm's 50 day simple moving average is $38.43 and its 200 day simple moving average is $42.62. The firm has a market capitalization of $53.25 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. 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 announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) 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 company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $0.90 earnings per share. As a group, analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced 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 5.12%. Truist Financial's dividend payout ratio (DPR) is presently 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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