Truist Financial Co. (NYSE:TFC) Shares Bought by Griffith & Werner Inc.

Griffith & Werner Inc. grew its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 15.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 119,622 shares of the insurance provider's stock after buying an additional 15,949 shares during the quarter. Truist Financial accounts for approximately 3.1% of Griffith & Werner Inc.'s portfolio, making the stock its 14th biggest position. Griffith & Werner Inc.'s holdings in Truist Financial were worth $4,922,000 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. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter valued at about $26,000. Navigoe LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at about $45,000. TCTC Holdings LLC boosted its stake in shares of Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after buying an additional 287 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in shares of Truist Financial in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $40.66 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a 50 day moving average of $38.43 and a two-hundred day moving average of $42.65. The stock has a market cap of $53.25 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.63 and a beta of 0.84.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates 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 earnings per share. On average, research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TFC. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods lowered their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Morgan Stanley lowered their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Finally, Stephens lowered 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. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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