Lake Street Advisors Group LLC Has $323,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Lake Street Advisors Group LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 44.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,299 shares of the insurance provider’s stock after buying an additional 2,544 shares during the period. Lake Street Advisors Group LLC’s holdings in Truist Financial were worth $323,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at $29,000. Rise Advisors LLC bought a new stake in shares of Truist Financial in the first quarter valued at about $32,000. Missouri Trust & Investment Co lifted its holdings in shares of Truist Financial by 227.2% in 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 in the last quarter. Northwest Financial Advisors acquired a new position in shares of Truist Financial during the fourth quarter worth about $34,000. Finally, Morton Brown Family Wealth LLC grew its holdings in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after buying an additional 649 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TFC shares. Piper Sandler boosted their target price on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. UBS Group increased their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Barclays raised their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stephens raised their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.05.

Truist Financial Stock Performance

Truist Financial stock traded down $0.54 during trading hours on Wednesday, hitting $43.61. The company had a trading volume of 7,361,834 shares, compared to its average volume of 8,532,152. The firm has a 50-day moving average of $38.64 and a 200 day moving average of $37.66. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market cap of $58.35 billion, a PE ratio of -33.04, a PEG ratio of 2.15 and a beta of 1.07. Truist Financial Co. has a one year low of $26.57 and a one year high of $44.38.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. On average, sell-side analysts expect that Truist Financial Co. will post 3.44 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.77%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Truist Financial 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.