Wynn Capital LLC Makes New $336,000 Investment in Truist Financial Co. (NYSE:TFC)

Wynn Capital LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,174 shares of the insurance provider's stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in Truist Financial during the 4th quarter worth about $26,000. Navigoe LLC bought a new stake in Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC bought a new stake in Truist Financial during the 4th quarter worth about $45,000. TCTC Holdings LLC lifted its position in Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after buying an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. bought a new stake in Truist Financial during the 4th quarter worth about $57,000. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of several analyst reports. Barclays cut their price target on shares of 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 shares of Truist Financial in a research note on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective on the stock. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Stock Up 2.6%

Shares of TFC opened at $40.66 on Friday. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The firm has a market cap of $53.25 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The firm's 50-day simple moving average is $38.43 and its 200 day simple moving average is $42.65. The company has a debt-to-equity ratio of 0.61, 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 results on Thursday, April 17th. The insurance provider reported $0.87 EPS 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 9.32%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business earned $0.90 EPS. On average, 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. Investors of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.12%. Truist Financial's dividend payout ratio (DPR) is currently 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.

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