PFW Advisors LLC Makes New $203,000 Investment in Truist Financial Co. (NYSE:TFC)

PFW Advisors LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,208 shares of the insurance provider’s stock, valued at approximately $203,000.

Several other institutional investors have also recently made changes to their positions in TFC. Vanguard Group Inc. increased its stake in Truist Financial by 0.3% during the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after acquiring an additional 365,871 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Royal Bank of Canada boosted its stake in Truist Financial by 5.0% during the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after buying an additional 732,801 shares during the period. Morgan Stanley increased its position in shares of Truist Financial by 0.3% during the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Truist Financial by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after acquiring an additional 883,416 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.4 %

Shares of NYSE:TFC traded up $0.16 during trading on Friday, hitting $36.79. 9,333,924 shares of the company were exchanged, compared to its average volume of 6,088,120. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average price is $37.74 and its 200-day moving average price is $37.00. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the business earned $1.09 EPS. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Analyst Ratings Changes

Several analysts recently weighed in on TFC shares. JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods increased their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. UBS Group lifted their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 target price on shares of Truist Financial in a research note on Thursday, May 9th. Finally, Citigroup raised their price target on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Company 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.