Community Trust & Investment Co. Buys 9,919 Shares of Truist Financial Co. (NYSE:TFC)

Community Trust & Investment Co. grew its position in shares of Truist Financial Co. (NYSE:TFC) by 67.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,640 shares of the insurance provider’s stock after buying an additional 9,919 shares during the quarter. Community Trust & Investment Co.’s holdings in Truist Financial were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TFC. Comerica Bank lifted its holdings in Truist Financial by 3.6% in the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock valued at $19,499,000 after acquiring an additional 15,499 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Truist Financial by 81.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock worth $48,085,000 after purchasing an additional 498,531 shares during the period. Stifel Financial Corp boosted its holdings in shares of Truist Financial by 2.8% in the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider’s stock worth $97,291,000 after buying an additional 60,848 shares during the last quarter. Glass Wealth Management Co LLC grew its position in Truist Financial by 9.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after buying an additional 5,900 shares during the period. Finally, Assetmark Inc. increased its holdings in Truist Financial by 97.1% during the fourth quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider’s stock valued at $3,984,000 after buying an additional 45,235 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $38.94 on Monday. The firm has a market cap of $50.99 billion, a PE ratio of 11.69, a PEG ratio of 1.63 and a beta of 0.84. The stock has a 50 day moving average of $38.77 and a 200 day moving average of $42.34. 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 12 month low of $33.56 and a 12 month high of $49.06.

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

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.34%. Truist Financial’s dividend payout ratio (DPR) is currently 61.36%.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. TD Cowen assumed coverage on Truist Financial in a research report on Thursday, May 15th. They set a “hold” rating and a $44.00 price objective on the stock. Stephens cut their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial 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.