Truist Financial Corporation (NYSE:TFC) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,654 shares of the insurance provider's stock after acquiring an additional 11,591 shares during the quarter. Cornerstone Wealth Group LLC's holdings in Truist Financial were worth $5,664,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in Truist Financial in the fourth quarter valued at approximately $45,000. TCTC Holdings LLC grew its position in Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after acquiring an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TFC shares. Piper Sandler dropped their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $55.00 in a research note on Thursday. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods reduced their price objective on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Finally, Barclays reduced their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.09 during midday trading on Friday, reaching $42.63. 8,255,678 shares of the company traded hands, compared to its average volume of 8,271,107. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a 50-day moving average price of $39.67 and a 200 day moving average price of $41.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $55.83 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.58 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 net margin of 15.59% and a return on equity of 8.96%. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the business earned $0.90 earnings per share. Sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 yield of 4.88%. The ex-dividend date was Friday, May 9th. Truist Financial's payout ratio is currently 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.