Cwm LLC Grows Stock Holdings in Truist Financial Corporation (NYSE:TFC)

CWM LLC grew its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,717 shares of the insurance provider's stock after buying an additional 5,933 shares during the quarter. CWM LLC's holdings in Truist Financial were worth $2,334,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Greatmark Investment Partners Inc. grew its position in shares of Truist Financial by 26.8% during the first quarter. Greatmark Investment Partners Inc. now owns 8,876 shares of the insurance provider's stock worth $365,000 after purchasing an additional 1,874 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Truist Financial during the first quarter worth about $94,000. Stephens Inc. AR grew its position in shares of Truist Financial by 1.3% during the first quarter. Stephens Inc. AR now owns 131,712 shares of the insurance provider's stock worth $5,420,000 after purchasing an additional 1,659 shares in the last quarter. BankPlus Trust Department grew its position in shares of Truist Financial by 19.7% during the first quarter. BankPlus Trust Department now owns 32,888 shares of the insurance provider's stock worth $1,353,000 after purchasing an additional 5,423 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Truist Financial by 1.3% during the first quarter. Arizona State Retirement System now owns 389,591 shares of the insurance provider's stock worth $16,032,000 after purchasing an additional 5,131 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Down 1.6%

NYSE TFC traded down $0.70 on Friday, reaching $44.31. 13,738,714 shares of the stock traded hands, compared to its average volume of 8,360,087. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average price of $41.67 and a 200-day moving average price of $42.05. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.66 and a beta of 0.85. 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 results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The company's revenue was down 406.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid 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 yield of 4.69%. Truist Financial's dividend payout ratio (DPR) is 56.68%.

Analyst Ratings Changes

Several equities analysts have weighed in on TFC shares. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Tuesday, July 8th. Stephens cut their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods cut Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target for the company. in a report on Wednesday, July 9th. Finally, Barclays cut their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of "Moderate Buy" and an average price target of $48.44.

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.