Blue Rock Wealth Management LLC Invests $222,000 in Truist Financial Corporation $TFC

Blue Rock Wealth Management LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,400 shares of the insurance provider’s stock, valued at approximately $222,000.

Other hedge funds have also recently bought and sold shares of the company. Klingman & Associates LLC grew its holdings in shares of Truist Financial by 2.2% in the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 248 shares in the last quarter. Haverford Trust Co grew its holdings in shares of Truist Financial by 3.5% in the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 262 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Truist Financial by 8.0% in the first quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider’s stock valued at $160,000 after acquiring an additional 288 shares in the last quarter. Ballast Inc. grew its holdings in shares of Truist Financial by 0.7% in the first quarter. Ballast Inc. now owns 39,348 shares of the insurance provider’s stock valued at $1,619,000 after acquiring an additional 290 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in shares of Truist Financial by 4.8% in the fourth quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 291 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

Truist Financial Trading Down 1.6%

Shares of TFC stock opened at $45.29 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a market capitalization of $58.40 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88. The business’s fifty day moving average is $45.02 and its 200 day moving average is $41.72.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter last year, the business posted $0.91 EPS. The company’s quarterly revenue was down 406.0% on a year-over-year basis. On average, equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TFC shares. Morgan Stanley reaffirmed a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They issued a “hold” rating and a $44.00 price target for the company. Keefe, Bruyette & Woods lowered Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a report on Wednesday, July 9th. Finally, Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $48.47.

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.