O Shaughnessy Asset Management LLC Buys 35,636 Shares of Truist Financial Co. (NYSE:TFC)

O Shaughnessy Asset Management LLC raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 46.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,963 shares of the insurance provider’s stock after purchasing an additional 35,636 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Truist Financial were worth $4,364,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth about $29,000. Missouri Trust & Investment Co raised its position in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth about $32,000. Morton Brown Family Wealth LLC raised its position in shares of Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares in the last quarter. Finally, Northwest Financial Advisors bought a new position in shares of Truist Financial in the 4th quarter worth about $34,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of Truist Financial stock traded up $0.40 during mid-day trading on Tuesday, hitting $44.18. 7,182,572 shares of the stock were exchanged, compared to its average volume of 8,540,496. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $44.38. The company has a 50-day simple moving average of $38.47 and a 200 day simple moving average of $37.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $59.12 billion, a P/E ratio of -33.42, a P/E/G ratio of 2.08 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the firm earned $0.95 EPS. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. Sell-side analysts anticipate that Truist Financial Co. will post 3.44 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.71%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Truist Financial from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Royal Bank of Canada raised their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday. Piper Sandler raised their target price on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. raised their target price on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Citigroup raised their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.95.

About Truist Financial

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.