Vaughan David Investments LLC IL Has $618,000 Position in Truist Financial Co. (NYSE:TFC)

Vaughan David Investments LLC IL reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,852 shares of the insurance provider’s stock after selling 2,586 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Truist Financial were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. BKM Wealth Management LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at $78,000. CX Institutional acquired a new stake in shares of Truist Financial in the fourth quarter valued at $285,000. Premier Path Wealth Partners LLC acquired a new stake in Truist Financial in the fourth quarter worth about $408,000. Mutual Advisors LLC increased its position in Truist Financial by 16.2% in the fourth quarter. Mutual Advisors LLC now owns 30,207 shares of the insurance provider’s stock worth $1,115,000 after purchasing an additional 4,221 shares during the period. Finally, HB Wealth Management LLC increased its position in Truist Financial by 18.9% in the fourth quarter. HB Wealth Management LLC now owns 95,785 shares of the insurance provider’s stock worth $3,536,000 after purchasing an additional 15,240 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 1.2 %

Shares of NYSE:TFC traded down $0.54 during trading on Wednesday, hitting $43.61. 7,361,834 shares of the company’s stock traded hands, compared to its average volume of 8,532,152. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $44.38. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a market cap of $58.35 billion, a price-to-earnings ratio of -33.04, a price-to-earnings-growth ratio of 2.15 and a beta of 1.07. The company has a 50-day moving average price of $38.64 and a 200-day moving average price of $37.66.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the business posted $0.95 EPS. Truist Financial’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, research analysts forecast that Truist Financial Co. will post 3.44 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. HSBC lifted their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Sandler lifted their price objective on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Stephens lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. 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’s stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average target price of $45.05.

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.