Truist Financial Co. (NYSE:TFC) Shares Purchased by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group grew its position in shares of Truist Financial Co. (NYSE:TFC) by 9.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,603 shares of the insurance provider’s stock after acquiring an additional 746 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Truist Financial were worth $335,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC increased its holdings in Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of Truist Financial by 30.9% in the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock valued at $13,783,000 after buying an additional 88,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares during the period. Parnassus Investments LLC acquired a new position in Truist Financial during the 4th quarter worth approximately $95,049,000. Finally, Rafferty Asset Management LLC boosted its holdings in Truist Financial by 47.7% in the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock worth $43,760,000 after acquiring an additional 382,976 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Up 2.0 %

Shares of TFC traded up $0.77 during midday trading on Thursday, hitting $40.03. The stock had a trading volume of 1,282,020 shares, compared to its average volume of 8,467,839. The business has a 50-day simple moving average of $38.00 and a two-hundred day simple moving average of $37.28. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market cap of $53.56 billion, a P/E ratio of -29.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.07.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. As a group, equities analysts forecast that Truist Financial Co. will post 3.37 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent research reports. Stephens boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. UBS Group boosted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Jefferies Financial Group raised their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Barclays assumed coverage on shares of Truist Financial in a research note on Thursday, May 16th. They set an “equal weight” rating and a $43.00 target price for the company. Finally, Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $43.17.

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.