Valley Wealth Managers Inc. Purchases New Shares in Truist Financial Co. (NYSE:TFC)

Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 600 shares of the insurance provider’s stock, valued at approximately $26,000.

A number of other hedge funds have also bought and sold shares of TFC. CreativeOne Wealth LLC bought a new position in Truist Financial during the 1st quarter valued at about $516,000. M&G Plc bought a new position in shares of Truist Financial during the second quarter valued at approximately $2,804,000. Dimensional Fund Advisors LP raised its holdings in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the period. Boston Common Asset Management LLC lifted its stake in shares of Truist Financial by 66.4% during the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after acquiring an additional 61,683 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Truist Financial by 10.6% during the 1st quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock valued at $8,965,000 after acquiring an additional 22,182 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TFC shares. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Morgan Stanley raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Bank of America raised their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.37.

Truist Financial Price Performance

Shares of TFC opened at $46.54 on Friday. The company has a 50 day moving average of $43.18 and a two-hundred day moving average of $41.22. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a twelve month low of $31.13 and a twelve month high of $47.57. The company has a market cap of $61.78 billion, a price-to-earnings ratio of -32.54, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. As a group, analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

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.