International Private Wealth Advisors LLC Boosts Holdings in Truist Financial Co. (NYSE:TFC)

International Private Wealth Advisors LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,796 shares of the insurance provider’s stock after buying an additional 1,035 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Truist Financial were worth $403,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial in the 4th quarter valued at $26,000. Navigoe LLC purchased a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial during the fourth quarter worth $45,000. TCTC Holdings LLC boosted its position in shares of Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after buying an additional 287 shares during the period. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at $57,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Up 2.6%

Shares of NYSE TFC opened at $40.66 on Monday. The stock has a market cap of $53.25 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The business has a 50-day moving average price of $38.43 and a 200 day moving average price of $42.62. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm posted $0.90 EPS. Equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lowered their target price on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Morgan Stanley cut their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Piper Sandler decreased their price objective on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Stephens reduced their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.83.

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.