Capital Asset Advisory Services LLC Sells 365 Shares of Truist Financial Co. (NYSE:TFC)

Capital Asset Advisory Services LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,683 shares of the insurance provider’s stock after selling 365 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Truist Financial were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Valmark Advisers Inc. raised its stake in shares of Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares during the period. St. Johns Investment Management Company LLC raised its stake in shares of Truist Financial by 0.9% during the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock valued at $1,191,000 after purchasing an additional 296 shares during the period. Mechanics Financial Corp raised its stake in shares of Truist Financial by 7.4% during the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 300 shares during the period. Day & Ennis LLC raised its stake in shares of Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after purchasing an additional 311 shares during the period. Finally, Carson Advisory Inc. raised its stake in shares of Truist Financial by 1.5% during the 4th quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock valued at $810,000 after purchasing an additional 315 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TFC. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Jefferies Financial Group boosted their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Wells Fargo & Company boosted their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Stephens boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.17.

Truist Financial Trading Up 2.7 %

Shares of TFC stock opened at $38.85 on Friday. The stock has a market capitalization of $51.99 billion, a PE ratio of -29.43, a P/E/G ratio of 1.99 and a beta of 1.06. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $40.51. The business has a 50-day moving average of $37.89 and a 200 day moving average of $37.13. 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 (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 EPS. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s dividend payout ratio is presently -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.