Truist Financial Corporation $TFC Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its stake in Truist Financial Corporation (NYSE:TFC) by 14.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,634 shares of the insurance provider’s stock after buying an additional 35,754 shares during the quarter. Wealthfront Advisers LLC’s holdings in Truist Financial were worth $12,763,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TFC. 3Chopt Investment Partners LLC lifted its position in shares of Truist Financial by 1.3% in the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after acquiring an additional 193 shares in the last quarter. IFP Advisors Inc increased its position in shares of Truist Financial by 2.4% during the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 194 shares in the last quarter. PCB Capital LLC increased its position in shares of Truist Financial by 3.0% during the first quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 198 shares in the last quarter. AlphaCore Capital LLC raised its stake in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 199 shares during the last quarter. Finally, CYBER HORNET ETFs LLC raised its stake in Truist Financial by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 199 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $53.08 on Friday. The business’s 50 day moving average price is $49.33 and its 200 day moving average price is $49.48. The company has a market cap of $66.13 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the prior year, the business earned $0.87 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that Truist Financial Corporation will post 4.51 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. Truist Financial’s dividend payout ratio is currently 51.61%.

Analysts Set New Price Targets

TFC has been the topic of several recent research reports. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Bank of America reiterated a “neutral” rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, May 1st. Finally, Evercore reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Truist Financial in a research note on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.47.

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.