Lawood & Co. Makes New Investment in Truist Financial Corporation $TFC

Lawood & Co. purchased a new stake in Truist Financial Corporation (NYSE:TFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,684 shares of the insurance provider’s stock, valued at approximately $1,165,000.

Other hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the third quarter worth $28,000. Maseco LLP raised its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Ancora Advisors LLC grew its stake in Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 500 shares during the period. Finally, Quest 10 Wealth Builders Inc. lifted its position in Truist Financial by 2,178.4% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after buying an additional 806 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 0.4%

TFC stock opened at $46.93 on Friday. The company has a market capitalization of $58.47 billion, a P/E ratio of 11.65, a PEG ratio of 0.81 and a beta of 0.92. The firm has a 50 day simple moving average of $47.78 and a 200-day simple moving average of $48.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $38.27 and a twelve month high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. On average, equities research analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.

Analysts Set New Price Targets

TFC has been the topic of several research reports. Argus increased their target price on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. TD Cowen raised their price objective on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Morgan Stanley decreased their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Finally, Piper Sandler upped their price target on Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $55.59.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.