Truist Financial Co. (NYSE:TFC) Shares Purchased by Dover Advisors LLC

Dover Advisors LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,760 shares of the insurance provider's stock after buying an additional 8,307 shares during the quarter. Dover Advisors LLC's holdings in Truist Financial were worth $978,000 at the end of the most recent quarter.

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

Truist Financial Price Performance

Truist Financial stock traded down $1.00 during midday trading on Friday, reaching $38.94. 6,465,713 shares of the company were exchanged, compared to its average volume of 8,283,325. The company has a market capitalization of $50.99 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.63 and a beta of 0.84. The firm's 50-day simple moving average is $38.77 and its 200-day simple moving average is $42.38. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the business earned $0.90 EPS. On average, analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date was Friday, May 9th. Truist Financial's payout ratio is currently 61.36%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TFC. Morgan Stanley decreased 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 note on Monday, April 7th. Raymond James cut shares of Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and raised their price target for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Wells Fargo & Company decreased their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Citigroup reduced their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

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.