Cutter & CO Brokerage Inc. Purchases Shares of 11,653 Truist Financial Corporation (NYSE:TFC)

Cutter & CO Brokerage Inc. acquired a new position in Truist Financial Corporation (NYSE:TFC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,653 shares of the insurance provider's stock, valued at approximately $480,000.

Other institutional investors also recently bought and sold shares of the company. 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 purchasing an additional 283 shares during the last quarter. TCTC Holdings LLC lifted its holdings 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. Meeder Advisory Services Inc. lifted its holdings in Truist Financial by 1.0% in the fourth 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 during the last quarter. Integrated Advisors Network LLC lifted its holdings in Truist Financial by 4.8% in the fourth 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 during the last quarter. Finally, McKinley Carter Wealth Services Inc. lifted its holdings in Truist Financial by 1.6% in the first 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 during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on TFC. Argus set a $43.00 price objective on Truist Financial in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and upped their price objective for the company from $44.00 to $55.00 in a report on Thursday, June 26th. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective on the stock. Finally, Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.44.

Truist Financial Price Performance

Shares of TFC traded up $0.51 during mid-day trading on Thursday, reaching $44.87. 3,379,219 shares of the company's stock were exchanged, compared to its average volume of 8,337,016. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The company has a 50-day simple moving average of $41.45 and a two-hundred day simple moving average of $42.04. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a market cap of $58.75 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.67 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period in the previous year, the company earned $0.90 EPS. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 yield of 4.64%. Truist Financial's payout ratio is currently 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.