United Bank Buys 14,366 Shares of Truist Financial Corporation (NYSE:TFC)

United Bank grew its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 19.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,148 shares of the insurance provider's stock after buying an additional 14,366 shares during the quarter. Truist Financial makes up 0.4% of United Bank's holdings, making the stock its 19th biggest holding. United Bank's holdings in Truist Financial were worth $3,710,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Navigoe LLC bought a new stake in shares of Truist Financial in the 4th quarter valued at about $26,000. Centennial Bank AR boosted its holdings in Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 580 shares during the last quarter. Sierra Ocean LLC boosted its holdings in Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 352 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Truist Financial in the 1st quarter valued at $43,000. Finally, Pinney & Scofield Inc. bought a new stake in Truist Financial during the fourth quarter valued at $57,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Truist Financial stock traded up $0.15 during mid-day trading on Tuesday, reaching $44.88. The company's stock had a trading volume of 1,528,039 shares, compared to its average volume of 8,340,079. The company has a market capitalization of $58.78 billion, a P/E ratio of 12.24, a PEG ratio of 1.66 and a beta of 0.85. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The firm's fifty day moving average price is $41.67 and its two-hundred day moving average price is $42.04.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm's revenue for the quarter was down 406.0% on a year-over-year basis. Sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 4.63%. Truist Financial's dividend payout ratio (DPR) is presently 56.68%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TFC. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and increased their price target for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Piper Sandler dropped their price objective 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. Wells Fargo & Company dropped their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods lowered Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.72.

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.

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