Southern Capital Advisors LLC Purchases Shares of 47,191 Truist Financial Corporation (NYSE:TFC)

Southern Capital Advisors LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 47,191 shares of the insurance provider's stock, valued at approximately $1,942,000. Truist Financial comprises about 1.1% of Southern Capital Advisors LLC's portfolio, making the stock its 21st largest position.

A number of other hedge funds have also bought and sold shares of TFC. Legacy Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at approximately $207,000. AssuredPartners Investment Advisors LLC increased its stake in Truist Financial by 10.2% during the first quarter. AssuredPartners Investment Advisors LLC now owns 30,626 shares of the insurance provider's stock worth $1,260,000 after purchasing an additional 2,827 shares during the period. Asset Management One Co. Ltd. grew its stake in Truist Financial by 5.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 547,172 shares of the insurance provider's stock worth $22,516,000 after purchasing an additional 29,958 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Truist Financial by 1.6% in the first quarter. GHP Investment Advisors Inc. now owns 44,433 shares of the insurance provider's stock valued at $1,828,000 after acquiring an additional 700 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Truist Financial by 2.2% in the first quarter. Oppenheimer & Co. Inc. now owns 138,276 shares of the insurance provider's stock valued at $5,690,000 after buying an additional 2,986 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TFC. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their target price 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 shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Barclays dropped their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Stephens lowered their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Nine investment 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Stock Performance

Shares of TFC traded up $0.01 during midday trading on Wednesday, reaching $41.46. The stock had a trading volume of 5,750,758 shares, compared to its average volume of 8,279,686. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $39.29 and a 200-day simple moving average of $42.04. The firm has a market cap of $54.29 billion, a PE ratio of 12.23, a P/E/G ratio of 1.52 and a beta of 0.84. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. Truist Financial's dividend payout ratio (DPR) is 61.36%.

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.