Prevail Innovative Wealth Advisors LLC Has $753,000 Holdings in Truist Financial Corporation (NYSE:TFC)

Prevail Innovative Wealth Advisors LLC increased its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 161.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 18,303 shares of the insurance provider's stock after purchasing an additional 11,305 shares during the period. Prevail Innovative Wealth Advisors LLC's holdings in Truist Financial were worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TIAA Trust National Association increased its stake in Truist Financial by 1.2% in the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after buying an additional 283 shares during the period. TCTC Holdings LLC lifted its stake 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 during the last quarter. Meeder Advisory Services Inc. lifted its stake in Truist Financial by 1.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock valued at $1,231,000 after acquiring an additional 288 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Truist Financial by 4.8% in the fourth quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider's stock valued at $274,000 after acquiring an additional 291 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. lifted its stake in Truist Financial by 1.6% in the first quarter. McKinley Carter Wealth Services Inc. now owns 19,657 shares of the insurance provider's stock valued at $809,000 after acquiring an additional 305 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 analysts have issued reports on the stock. Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a research note on Wednesday, July 9th. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a report on Tuesday, July 8th. TD Cowen initiated coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target on the stock. Morgan Stanley lowered their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Finally, Wells Fargo & Company lowered their price target on Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.70 during trading on Friday, hitting $44.31. 13,738,714 shares of the stock were exchanged, compared to its average volume of 8,366,550. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a market capitalization of $58.03 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. The company's fifty day simple moving average is $41.67 and its 200-day simple moving average is $42.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the business posted $0.91 EPS. Truist Financial's revenue for the quarter was down 406.0% compared to the same quarter last year. Sell-side analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.69%. Truist Financial's payout ratio is presently 61.36%.

Truist Financial Company 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.