Lecap Asset Management Ltd. Buys New Position in Truist Financial Co. (NYSE:TFC)

Lecap Asset Management Ltd. bought a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,501 shares of the insurance provider’s stock, valued at approximately $314,000.

Several other large investors also recently added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new position in shares of Truist Financial in the first quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in shares of Truist Financial in the third quarter worth approximately $26,000. Operose Advisors LLC bought a new position in shares of Truist Financial in the third quarter worth approximately $31,000. Quarry LP bought a new position in shares of Truist Financial in the first quarter worth approximately $32,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Truist Financial in the third quarter worth approximately $33,000. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TFC shares. HSBC boosted their target price on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Barclays boosted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.47.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

Truist Financial Trading Down 0.2 %

NYSE TFC opened at $36.71 on Tuesday. The company’s 50-day moving average price is $36.64 and its 200-day moving average price is $34.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a market cap of $48.99 billion, a PE ratio of -33.99, a PEG ratio of 2.27 and a beta of 1.08. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the business posted $1.30 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.67%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is currently -192.59%.

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.