Adams Chetwood Wealth Management LLC purchased a new position in Truist Financial Corporation (NYSE:TFC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,239 shares of the insurance provider’s stock, valued at approximately $516,000.

Other large investors have also recently made changes to their positions in the company. Covington Capital Management purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $25,000. Field & Main Bank acquired a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. NuWave Investment Management LLC acquired a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. Global Trust Asset Management LLC acquired a new position in Truist Financial during the 4th quarter valued at about $28,000. Finally, Sofos Investments Inc. acquired a new position in Truist Financial during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 72.10% of the company’s stock.

TFC has been the topic of several research analyst reports. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $56.00 target price on the stock in a research note on Tuesday, March 17th. Cfra lowered their target price on shares of Truist Financial from $56.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Compass Point lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. UBS Group lifted their price objective on shares of Truist Financial to $36.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Janney Montgomery Scott lowered their price objective on shares of Truist Financial from $57.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.13.

NYSE TFC traded up $2.38 during trading hours on Wednesday, reaching $39.99. 301,494 shares of the company’s stock were exchanged, compared to its average volume of 6,174,611. The company’s 50-day moving average is $34.67 and its two-hundred day moving average is $45.45. Truist Financial Corporation has a one year low of $24.01 and a one year high of $56.92. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.98 and a current ratio of 0.99. The company has a market capitalization of $53.94 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 20th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.33. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Truist Financial had a return on equity of 8.98% and a net margin of 19.60%. Truist Financial’s revenue for the quarter was up 93.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. Research analysts predict that Truist Financial Corporation will post 2.8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.80 annualized dividend and a dividend yield of 4.50%. Truist Financial’s dividend payout ratio is 41.19%.

In related news, VP Brantley J. Standridge sold 4,800 shares of Truist Financial stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $31.82, for a total transaction of $152,736.00. Following the transaction, the vice president now owns 14,010 shares of the company’s stock, valued at $445,798.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ellen Koebler sold 10,000 shares of Truist Financial stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $31.97, for a total value of $319,700.00. Following the transaction, the insider now directly owns 16,859 shares in the company, valued at approximately $538,982.23. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Truist Financial Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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