Truist Financial Co. (NYSE:TFC) Stake Raised by Community Trust & Investment Co.

Community Trust & Investment Co. raised its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 67.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,640 shares of the insurance provider's stock after purchasing an additional 9,919 shares during the period. Community Trust & Investment Co.'s holdings in Truist Financial were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Truist Financial by 3.6% during the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock worth $19,499,000 after purchasing an additional 15,499 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Truist Financial by 81.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after purchasing an additional 498,531 shares during the period. Stifel Financial Corp raised its stake in shares of Truist Financial by 2.8% during the 4th quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock valued at $97,291,000 after buying an additional 60,848 shares during the last quarter. Glass Wealth Management Co LLC lifted its holdings in shares of Truist Financial by 9.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider's stock valued at $2,949,000 after buying an additional 5,900 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Truist Financial by 97.1% in the fourth quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider's stock worth $3,984,000 after buying an additional 45,235 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. Stephens decreased 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 report on Monday, April 21st. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley decreased their target price on 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. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Stock Up 1.0%

Truist Financial stock traded up $0.40 during trading on Monday, reaching $39.37. 6,628,238 shares of the company's stock were exchanged, compared to its average volume of 8,276,659. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The firm has a market cap of $51.56 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company's 50-day moving average is $38.77 and its two-hundred day moving average is $42.34.

Truist Financial (NYSE:TFC - Get Free Report) last posted its 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 net margin of 15.59% and a return on equity of 9.32%. The business 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 company posted $0.90 earnings per share. On average, analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.28%. Truist Financial's payout ratio is 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.