Truist Financial Corporation $TFC Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 43.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,875 shares of the insurance provider’s stock after buying an additional 10,883 shares during the quarter. NewEdge Wealth LLC’s holdings in Truist Financial were worth $1,765,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the third quarter worth approximately $28,000. Maseco LLP raised its position in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. Ancora Advisors LLC boosted its stake in Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares during the period. Finally, Quest 10 Wealth Builders Inc. grew its position in Truist Financial by 2,178.4% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 806 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 2.6%

TFC stock opened at $46.53 on Thursday. Truist Financial Corporation has a one year low of $38.27 and a one year high of $56.19. The stock has a market capitalization of $57.97 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average of $47.87 and a 200-day moving average of $48.59.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, analysts expect that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.5%. Truist Financial’s payout ratio is presently 51.61%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent research reports. TD Cowen lifted their price objective on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Royal Bank Of Canada raised their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Argus boosted their price target on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Jefferies Financial Group restated a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Finally, Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.