11,622 Shares in Truist Financial Corporation $TFC Bought by Nalls Sherbakoff Group LLC

Nalls Sherbakoff Group LLC acquired a new position in Truist Financial Corporation (NYSE:TFC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,622 shares of the insurance provider’s stock, valued at approximately $572,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. 3Chopt Investment Partners LLC raised its holdings in shares of Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after purchasing an additional 193 shares during the period. IFP Advisors Inc boosted its holdings in shares of Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after buying an additional 194 shares during the period. AlphaCore Capital LLC boosted its holdings in shares of Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares during the period. CYBER HORNET ETFs LLC grew its position in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after buying an additional 199 shares during the last quarter. Finally, Mindset Wealth Management LLC grew its position in shares of Truist Financial by 0.6% during the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock valued at $1,706,000 after buying an additional 201 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TFC. Morgan Stanley dropped their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Royal Bank Of Canada increased their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Finally, Stephens assumed coverage on Truist Financial in a report on Monday, June 15th. They issued an “overweight” rating and a $59.00 price target on the stock. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.79.

Truist Financial Stock Down 0.0%

Truist Financial stock opened at $48.33 on Friday. The company has a 50-day simple moving average of $49.16 and a 200-day simple moving average of $49.24. The firm has a market capitalization of $60.21 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a one year low of $39.94 and a one year high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. As a group, equities analysts expect that Truist Financial Corporation will post 4.5 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.3%. Truist Financial’s dividend payout ratio is 51.61%.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.