St. Johns Investment Management Company LLC Has $1.42 Million Stock Position in Truist Financial Co. (NYSE:TFC)

St. Johns Investment Management Company LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 12.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,338 shares of the insurance provider’s stock after purchasing an additional 4,083 shares during the period. St. Johns Investment Management Company LLC’s holdings in Truist Financial were worth $1,416,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the 1st quarter valued at about $29,000. Rise Advisors LLC bought a new position in Truist Financial in the 1st quarter valued at about $32,000. Missouri Trust & Investment Co raised its holdings in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the period. Northwest Financial Advisors bought a new position in Truist Financial in the 4th quarter valued at about $34,000. Finally, Morton Brown Family Wealth LLC raised its holdings in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $36.89 on Thursday. The company’s 50 day simple moving average is $37.78 and its 200 day simple moving average is $37.09. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.64%. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TFC. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday. HSBC increased their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 target price on shares of Truist Financial in a report on Thursday, May 9th. Wells Fargo & Company raised their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

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.