SteelPeak Wealth LLC Purchases 7,890 Shares of Truist Financial Co. (NYSE:TFC)

SteelPeak Wealth LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 3.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,380 shares of the insurance provider’s stock after buying an additional 7,890 shares during the quarter. SteelPeak Wealth LLC’s holdings in Truist Financial were worth $8,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. O Shaughnessy Asset Management LLC grew its holdings in Truist Financial by 21.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 35,464 shares of the insurance provider’s stock valued at $1,015,000 after buying an additional 6,181 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in Truist Financial in the 3rd quarter worth $33,000. Waverly Advisors LLC boosted its holdings in shares of Truist Financial by 48.9% during the 3rd quarter. Waverly Advisors LLC now owns 65,948 shares of the insurance provider’s stock valued at $1,887,000 after purchasing an additional 21,660 shares during the last quarter. United Services Automobile Association grew its position in shares of Truist Financial by 27.7% during the third quarter. United Services Automobile Association now owns 39,673 shares of the insurance provider’s stock valued at $1,135,000 after purchasing an additional 8,598 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its holdings in shares of Truist Financial by 7.7% in the third quarter. Gallagher Fiduciary Advisors LLC now owns 21,663 shares of the insurance provider’s stock worth $620,000 after purchasing an additional 1,556 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on TFC shares. HSBC raised their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a research note on Thursday, May 9th. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. UBS Group upped their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Trading Up 2.7 %

Shares of NYSE:TFC traded up $1.01 on Friday, hitting $38.85. 9,600,184 shares of the company’s stock were exchanged, compared to its average volume of 7,012,324. The business’s 50 day simple moving average is $37.89 and its two-hundred day simple moving average is $37.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $51.99 billion, a price-to-earnings ratio of -29.43, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $1.09 EPS. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Announces Dividend

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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.