GAMMA Investing LLC Buys 1,005 Shares of Truist Financial Co. (NYSE:TFC)

GAMMA Investing LLC lifted its stake in Truist Financial Co. (NYSE:TFC) by 13.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,333 shares of the insurance provider’s stock after buying an additional 1,005 shares during the quarter. GAMMA Investing LLC’s holdings in Truist Financial were worth $325,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Missouri Trust & Investment Co grew its position in shares of 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 purchasing an additional 593 shares in the last quarter. Northwest Financial Advisors bought a new stake in Truist Financial in the 4th quarter worth approximately $34,000. Morton Brown Family Wealth LLC raised its holdings in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Truist Financial during the 4th quarter valued at approximately $38,000. Finally, Operose Advisors LLC purchased a new position in shares of Truist Financial in the third quarter valued at $31,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on TFC shares. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Jefferies Financial Group lifted their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. HSBC raised their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. boosted their target price on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Stephens increased their price target on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Price Performance

Shares of TFC stock opened at $36.57 on Thursday. The stock has a market capitalization of $48.93 billion, a price-to-earnings ratio of -27.70, a P/E/G ratio of 1.81 and a beta of 1.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51. The stock has a fifty day simple moving average of $37.75 and a two-hundred day simple moving average of $36.97.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the business earned $1.09 EPS. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. On average, analysts predict that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.