60,519 Shares of Truist Financial Corporation $TFC Purchased by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 60,519 shares of the insurance provider’s stock, valued at approximately $2,802,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new position in shares of Truist Financial during the second quarter valued at approximately $30,000. Navigoe LLC bought a new position in shares of Truist Financial during the second quarter valued at approximately $30,000. Wilkerson Advisory Group LLC raised its holdings in shares of Truist Financial by 104.0% during the first quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 421 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of Truist Financial by 44.6% during the second quarter. Elevation Wealth Partners LLC now owns 892 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 275 shares in the last quarter. Finally, Latitude Advisors LLC purchased a new stake in Truist Financial in the third quarter worth $45,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.2%

Shares of NYSE:TFC opened at $49.48 on Monday. The stock has a fifty day simple moving average of $48.34 and a two-hundred day simple moving average of $49.50. The stock has a market capitalization of $59.30 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.10 and a beta of 0.90. Truist Financial Corporation has a 12-month low of $43.13 and a 12-month high of $56.19. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company posted $1.04 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. On average, research analysts anticipate that Truist Financial Corporation will post 4.66 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s payout ratio is presently 53.61%.

Analysts Set New Price Targets

TFC has been the topic of several recent analyst reports. Stephens cut their price target on shares of Truist Financial from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, October 20th. Bank of America decreased their price target on shares of Truist Financial from $56.00 to $53.00 in a research note on Thursday, October 8th. Citigroup lowered their price objective on shares of Truist Financial from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, October 21st. HSBC initiated coverage on Truist Financial in a research report on Monday, September 28th. They set a “buy” rating and a $61.00 price objective on the stock. Finally, The Goldman Sachs Group reduced their target price on Truist Financial from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $54.73.

Insider Transactions at Truist Financial

In other news, CEO Michael Lyons acquired 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The shares were bought at an average cost of $48.36 per share, with a total value of $1,209,000.00. Following the transaction, the chief executive officer owned 46,000 shares of the company’s stock, valued at $2,224,560. This trade represents a 119.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.

Truist Financial Profile

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management.

The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.

Truist was formed in 2019 through the merger of BB&T Corporation and SunTrust Banks.