Truist Financial Co. (NYSE:TFC) Shares Acquired by Financial Management Professionals Inc.

Financial Management Professionals Inc. boosted its position in Truist Financial Co. (NYSE:TFC) by 13.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,538 shares of the insurance provider’s stock after acquiring an additional 979 shares during the quarter. Financial Management Professionals Inc.’s holdings in Truist Financial were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TFC. Bleakley Financial Group LLC lifted its stake in shares of Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares in the last quarter. Natixis Advisors L.P. lifted its position in Truist Financial by 30.9% during the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock valued at $13,783,000 after buying an additional 88,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after buying an additional 117,524 shares during the period. Parnassus Investments LLC acquired a new stake in shares of Truist Financial in the fourth quarter worth $95,049,000. Finally, Rafferty Asset Management LLC raised its stake in shares of Truist Financial by 47.7% in the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after acquiring an additional 382,976 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $38.85 on Friday. The business has a 50 day simple moving average of $37.89 and a 200-day simple moving average of $37.15. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51. The company has a market capitalization of $51.99 billion, a price-to-earnings ratio of -29.43, a price-to-earnings-growth ratio of 2.04 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 (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping 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 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 company earned $1.09 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts expect that Truist Financial Co. will post 3.36 earnings per share for the current 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 paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. Truist Financial’s payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

TFC has been the subject of several recent research reports. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Citigroup upped their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler lifted their price target on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.