Motley Fool Asset Management LLC Buys 1,706 Shares of Truist Financial Co. (NYSE:TFC)

Motley Fool Asset Management LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,430 shares of the insurance provider’s stock after acquiring an additional 1,706 shares during the period. Motley Fool Asset Management LLC’s holdings in Truist Financial were worth $1,498,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Valmark Advisers Inc. grew its holdings in Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after acquiring an additional 277 shares during the period. Whalen Wealth Management Inc. grew its stake in shares of Truist Financial by 4.8% in the 1st quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after buying an additional 288 shares during the period. Newbridge Financial Services Group Inc. grew its stake in shares of Truist Financial by 19.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock valued at $70,000 after buying an additional 290 shares during the period. St. Johns Investment Management Company LLC grew its stake in shares of Truist Financial by 0.9% in the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock valued at $1,191,000 after buying an additional 296 shares during the period. Finally, Mechanics Financial Corp grew its stake in shares of Truist Financial by 7.4% in the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after buying an additional 300 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of Truist Financial stock traded up $0.68 during mid-day trading on Wednesday, hitting $43.12. 8,813,447 shares of the stock were exchanged, compared to its average volume of 8,472,545. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $43.28. The company has a 50-day simple moving average of $38.18 and a 200 day simple moving average of $37.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $57.69 billion, a P/E ratio of -32.60, a P/E/G ratio of 2.07 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. Sell-side analysts anticipate that Truist Financial Co. will post 3.37 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.82%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TFC shares. Citigroup raised their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods raised their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Jefferies Financial Group raised 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. Morgan Stanley restated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Finally, StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $43.28.

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.