KMG Fiduciary Partners LLC Has $1.96 Million Position in Truist Financial Co. (NYSE:TFC)

KMG Fiduciary Partners LLC grew its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 21.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,639 shares of the insurance provider's stock after purchasing an additional 8,254 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Truist Financial were worth $1,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TFC. Griffith & Werner Inc. increased its stake in Truist Financial by 15.4% during the 1st quarter. Griffith & Werner Inc. now owns 119,622 shares of the insurance provider's stock worth $4,922,000 after purchasing an additional 15,949 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Truist Financial by 2.5% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 16,218 shares of the insurance provider's stock valued at $667,000 after buying an additional 394 shares during the last quarter. Gateway Investment Advisers LLC bought a new position in shares of Truist Financial in the 1st quarter valued at about $205,000. SeaCrest Wealth Management LLC grew its holdings in Truist Financial by 2.2% during the first quarter. SeaCrest Wealth Management LLC now owns 48,231 shares of the insurance provider's stock worth $1,985,000 after purchasing an additional 1,057 shares during the period. Finally, Procyon Advisors LLC raised its stake in Truist Financial by 50.4% in the first quarter. Procyon Advisors LLC now owns 24,473 shares of the insurance provider's stock valued at $917,000 after buying an additional 8,204 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Raymond James lowered Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Piper Sandler decreased their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company dropped their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Trading Down 0.8%

Shares of Truist Financial stock traded down $0.34 on Thursday, hitting $39.92. The stock had a trading volume of 5,565,548 shares, compared to its average volume of 8,283,493. The stock has a 50 day moving average of $38.59 and a 200 day moving average of $42.53. The firm has a market capitalization of $52.28 billion, a P/E ratio of 11.99, a PEG ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a twelve month low of $33.56 and a twelve month 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 results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter last year, the firm earned $0.90 earnings per share. Sell-side analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's payout ratio is presently 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.