Truist Financial Co. (NYSE:TFC) Stock Holdings Increased by Brookstone Capital Management

Brookstone Capital Management boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 313.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,965 shares of the insurance provider’s stock after purchasing an additional 234,283 shares during the period. Brookstone Capital Management’s holdings in Truist Financial were worth $12,043,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in shares of Truist Financial in the first quarter worth $29,000. Rise Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter worth about $32,000. Missouri Trust & Investment Co lifted its holdings in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares during the last quarter. Northwest Financial Advisors bought a new stake in shares of Truist Financial in the 4th quarter valued at approximately $34,000. Finally, Morton Brown Family Wealth LLC increased its holdings in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after buying an additional 649 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 2.6 %

NYSE:TFC opened at $37.86 on Friday. 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 one year low of $26.57 and a one year high of $40.51. The company has a fifty day moving average price of $37.81 and a 200 day moving average price of $37.09.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 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 during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Evercore ISI reiterated an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a research note on Thursday, May 9th. Stephens upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. HSBC raised their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Finally, Piper Sandler increased their price objective on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial 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.