Integrated Advisors Network LLC Buys 50,948 Shares of Truist Financial Co. (NYSE:TFC)

Integrated Advisors Network LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 806.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,264 shares of the insurance provider's stock after buying an additional 50,948 shares during the period. Integrated Advisors Network LLC's holdings in Truist Financial were worth $2,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the last quarter. Geode Capital Management LLC boosted its stake in Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after buying an additional 534,740 shares during the last quarter. Amundi boosted its stake in Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock valued at $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. Northern Trust Corp raised its position in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock valued at $465,827,000 after purchasing an additional 1,307,252 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 2.5%

TFC traded down $1.00 during trading on Friday, hitting $38.94. 6,465,713 shares of the stock were exchanged, compared to its average volume of 8,283,325. The firm has a 50 day simple moving average of $38.77 and a 200 day simple moving average of $42.38. The firm has a market cap 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. 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 released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period last year, the business posted $0.90 EPS. As a group, equities analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.34%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen assumed coverage on Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective on the stock. 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 research report on Thursday, April 3rd. Morgan Stanley decreased their price objective 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. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Argus set a $43.00 price objective on Truist Financial in a research report on Monday, April 21st. Nine 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.