tru Independence LLC Decreases Stock Position in Truist Financial Co. (NYSE:TFC)

tru Independence LLC lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,895 shares of the insurance provider’s stock after selling 1,124 shares during the period. tru Independence LLC’s holdings in Truist Financial were worth $5,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Truist Financial in the 1st quarter worth approximately $29,000. Missouri Trust & Investment Co boosted its stake 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 buying an additional 593 shares during the period. Rise Advisors LLC purchased a new position in Truist Financial during the first quarter worth about $32,000. Morton Brown Family Wealth LLC raised its holdings in shares of Truist Financial by 236.0% in 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 in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Truist Financial during the 4th quarter valued at about $34,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.2 %

Shares of NYSE TFC traded up $0.06 during midday trading on Tuesday, hitting $39.31. The stock had a trading volume of 2,353,111 shares, compared to its average volume of 8,635,578. The business’s 50 day moving average is $37.89 and its 200-day moving average is $37.16. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a market cap of $52.60 billion, a P/E ratio of -29.73, a PEG ratio of 2.04 and a beta of 1.07.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TFC. Barclays initiated coverage on shares of Truist Financial in a research note on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 target price on the stock. Jefferies Financial Group increased their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Piper Sandler lifted their price target on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Wells Fargo & Company increased their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

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.