West Paces Advisors Inc. Has $1.06 Million Stock Position in Truist Financial Co. (NYSE:TFC)

West Paces Advisors Inc. grew its stake in Truist Financial Co. (NYSE:TFC) by 2,337.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,811 shares of the insurance provider’s stock after purchasing an additional 24,752 shares during the quarter. West Paces Advisors Inc.’s holdings in Truist Financial were worth $1,062,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TFC. LaFleur & Godfrey LLC lifted its stake in shares of Truist Financial by 4.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider’s stock valued at $4,692,000 after purchasing an additional 4,670 shares during the period. Brighton Jones LLC lifted its stake in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Truist Financial during the 4th quarter worth $661,000. Golden State Wealth Management LLC acquired a new stake in Truist Financial during the 4th quarter worth $94,000. Finally, Apollon Wealth Management LLC raised its stake in Truist Financial by 10.9% during the 4th quarter. Apollon Wealth Management LLC now owns 54,502 shares of the insurance provider’s stock worth $2,364,000 after buying an additional 5,345 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Argus set a $43.00 price objective on Truist Financial in a research note on Monday, April 21st. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Stephens dropped their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. TD Cowen assumed coverage on Truist Financial in a research note on Thursday, May 15th. They set a “hold” rating and a $44.00 price objective on the stock. Finally, Piper Sandler dropped their price objective on Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $47.83.

Truist Financial Price Performance

TFC stock opened at $40.44 on Tuesday. The stock has a 50-day moving average price of $38.40 and a two-hundred day moving average price of $42.56. The stock has a market cap of $52.96 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share 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 return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the company earned $0.90 EPS. Equities analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s payout ratio is 61.36%.

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.