Patriot Financial Group Insurance Agency LLC Buys 394 Shares of Truist Financial Co. (NYSE:TFC)

Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,218 shares of the insurance provider’s stock after acquiring an additional 394 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Truist Financial were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. FWG Holdings LLC raised its position in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 234 shares during the last quarter. Avestar Capital LLC boosted its position in Truist Financial by 4.1% during the fourth quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider’s stock valued at $273,000 after acquiring an additional 250 shares during the last quarter. Pathway Financial Advisors LLC boosted its position in Truist Financial by 2.2% during the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock valued at $526,000 after acquiring an additional 260 shares during the last quarter. Nwam LLC boosted its position in Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock valued at $364,000 after acquiring an additional 263 shares during the last quarter. Finally, Wealth Quarterback LLC boosted its position in Truist Financial by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 15,287 shares of the insurance provider’s stock valued at $663,000 after acquiring an additional 266 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE TFC opened at $40.44 on Tuesday. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock has a market cap of $52.96 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50-day simple moving average is $38.40 and its 200 day simple moving average is $42.56.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the firm earned $0.90 EPS. As a group, research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio is currently 61.36%.

Analyst Ratings Changes

A number of brokerages have commented on TFC. Morgan Stanley cut their price target on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Citigroup cut their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Argus set a $43.00 price target on shares of Truist Financial in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

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.