Thurston Springer Miller Herd & Titak Inc. Has $75,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Thurston Springer Miller Herd & Titak Inc. trimmed its position in Truist Financial Co. (NYSE:TFC) by 38.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,828 shares of the insurance provider’s stock after selling 1,135 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Truist Financial were worth $75,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. FWG Holdings LLC lifted its position in shares of Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after buying an additional 234 shares during the last quarter. Avestar Capital LLC raised its stake in Truist Financial by 4.1% in the 4th quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider’s stock valued at $273,000 after acquiring an additional 250 shares during the period. Pathway Financial Advisors LLC lifted its holdings in Truist Financial by 2.2% during the 4th quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock valued at $526,000 after purchasing an additional 260 shares during the last quarter. Nwam LLC boosted its position in Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock worth $364,000 after purchasing an additional 263 shares during the period. Finally, Wealth Quarterback LLC boosted its position in Truist Financial by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 15,287 shares of the insurance provider’s stock worth $663,000 after purchasing an additional 266 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 2.6%

TFC opened at $40.66 on Friday. The stock has a market capitalization of $53.25 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.63 and a beta of 0.84. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a 50-day simple moving average of $38.43 and a 200 day simple moving average of $42.65.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period in the previous year, the company earned $0.90 EPS. Analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.12%. The ex-dividend date was Friday, May 9th. Truist Financial’s payout ratio is presently 61.36%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TFC. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Barclays cut their price objective on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Piper Sandler decreased their target price on Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial Company Profile

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.