Future Financial Wealth Managment LLC Buys New Shares in Truist Financial Co. (NYSE:TFC)

Future Financial Wealth Managment LLC bought a new position in Truist Financial Co. (NYSE:TFC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,900 shares of the insurance provider’s stock, valued at approximately $113,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Norges Bank acquired a new stake in shares of Truist Financial during the fourth quarter worth about $307,787,000. Parnassus Investments LLC acquired a new stake in Truist Financial during the 4th quarter valued at approximately $95,049,000. Azora Capital LP purchased a new stake in shares of Truist Financial in the 4th quarter valued at $72,498,000. Charles Schwab Investment Management Inc. increased its stake in shares of Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after acquiring an additional 1,458,248 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in shares of Truist Financial by 9,218.0% during the fourth quarter. Panagora Asset Management Inc. now owns 1,205,191 shares of the insurance provider’s stock worth $44,496,000 after purchasing an additional 1,192,257 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC stock opened at $37.86 on Friday. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day simple moving average of $37.81 and a 200-day simple moving average of $37.09.

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

Truist Financial Announces Dividend

The company 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 annualized dividend and a yield of 5.49%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Sandler upped their target price on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Evercore ISI reiterated an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a research report on Thursday, May 9th. Wells Fargo & Company upped their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, UBS Group raised their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.