79,533 Shares in Truist Financial Corporation $TFC Bought by L & S Advisors Inc

L & S Advisors Inc bought a new position in Truist Financial Corporation (NYSE:TFC) in the fourth quarter, HoldingsChannel.com reports. The firm bought 79,533 shares of the insurance provider’s stock, valued at approximately $3,914,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the 3rd quarter worth $28,000. Maseco LLP boosted its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of 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 buying an additional 431 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of 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 buying an additional 500 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of 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 buying an additional 806 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TFC shares. Piper Sandler increased their price objective on shares of Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Morgan Stanley reduced their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Argus increased their price objective on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Trading Down 0.4%

Shares of NYSE:TFC opened at $46.93 on Friday. Truist Financial Corporation has a 52-week low of $38.27 and a 52-week high of $56.19. The company has a market capitalization of $58.47 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.80 and a beta of 0.92. The company has a 50-day simple moving average of $47.78 and a 200 day simple moving average of $48.60. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period last year, the business posted $0.87 EPS. Truist Financial’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

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.