Mayfair Advisory Group LLC Buys 1,895 Shares of Truist Financial Co. (NYSE:TFC)

Mayfair Advisory Group LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 13.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,442 shares of the insurance provider’s stock after buying an additional 1,895 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Truist Financial were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TFC. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter valued at $29,000. Missouri Trust & Investment Co grew its holdings in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Rise Advisors LLC purchased a new stake in Truist Financial in the first quarter worth about $32,000. Tyler Stone Wealth Management purchased a new position in shares of Truist Financial during the 3rd quarter valued at about $33,000. Finally, Morton Brown Family Wealth LLC grew its stake in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TFC. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a report on Monday, April 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Finally, HSBC raised their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Truist Financial Trading Up 2.7 %

Shares of TFC stock traded up $1.01 during trading on Friday, hitting $38.85. 9,600,184 shares of the stock traded hands, compared to its average volume of 7,012,324. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. The firm has a market capitalization of $51.99 billion, a P/E ratio of -29.43, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06. The firm’s fifty day moving average price is $37.89 and its 200-day moving average price is $37.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. As a group, research analysts forecast that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. Truist Financial’s payout ratio is currently -157.58%.

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.