Truist Financial Co. (NYSE:TFC) Stake Raised by Wealth Alliance

Wealth Alliance lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,097 shares of the insurance provider’s stock after acquiring an additional 637 shares during the quarter. Wealth Alliance’s holdings in Truist Financial were worth $1,333,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TFC. Fairfield Bush & CO. acquired a new position in shares of Truist Financial during the first quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in Truist Financial in the third quarter worth approximately $26,000. Operose Advisors LLC acquired a new position in Truist Financial in the third quarter worth approximately $31,000. Quarry LP acquired a new position in Truist Financial in the first quarter worth approximately $32,000. Finally, Tyler Stone Wealth Management acquired a new position in Truist Financial in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock opened at $35.63 on Wednesday. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The stock has a market cap of $47.55 billion, a PE ratio of -32.99, a PEG ratio of 2.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $36.62 and its two-hundred day moving average price is $34.36.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period last year, the firm posted $1.30 earnings per share. As a group, analysts forecast that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.84%. Truist Financial’s dividend payout ratio is -192.59%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Wells Fargo & Company lifted their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. HSBC lifted their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, UBS Group lifted their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus target price of $41.47.

About Truist Financial

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.