U.S. Capital Wealth Advisors LLC Acquires 9,735 Shares of Truist Financial Corporation (NYSE:TFC)

U.S. Capital Wealth Advisors LLC boosted its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 114.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,225 shares of the insurance provider's stock after purchasing an additional 9,735 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Truist Financial were worth $750,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors grew its stake in Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. Geode Capital Management LLC increased its stake in shares of Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock worth $1,210,348,000 after acquiring an additional 534,740 shares in the last quarter. Northern Trust Corp lifted its position in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after acquiring an additional 2,452,239 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock worth $465,827,000 after acquiring an additional 1,307,252 shares in the last quarter. Finally, FMR LLC boosted its stake in Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TFC. Barclays dropped their price target on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target for the company. Piper Sandler dropped their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Morgan Stanley reduced their price objective on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a report on Wednesday, July 9th. Eight 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $48.44.

Truist Financial Stock Performance

NYSE:TFC traded up $0.24 during mid-day trading on Monday, hitting $45.67. 7,319,980 shares of the company traded hands, compared to its average volume of 8,336,915. The stock's fifty day moving average price is $41.10 and its 200-day moving average price is $41.99. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $59.81 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85.

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. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend was Friday, May 9th. 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.