Legacy Advisors LLC Acquires New Position in Truist Financial Corporation (NYSE:TFC)

Legacy Advisors LLC bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the 1st quarter, HoldingsChannel reports. The firm bought 5,035 shares of the insurance provider’s stock, valued at approximately $207,000.

Several other large investors also recently bought and sold shares of the business. Hopwood Financial Services Inc. bought a new stake in Truist Financial in the 4th quarter worth approximately $26,000. Navigoe LLC bought a new position in shares of Truist Financial in the fourth quarter worth about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the 4th quarter worth approximately $45,000. TCTC Holdings LLC grew its stake in Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after acquiring an additional 287 shares in the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in shares of Truist Financial during the fourth quarter valued at about $57,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 0.0%

TFC stock opened at $41.46 on Thursday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The firm has a 50 day moving average of $39.40 and a 200 day moving average of $42.04. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $54.29 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The firm 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 8.96% and a net margin of 15.59%. During the same period last year, the business posted $0.90 earnings per share. Sell-side analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio is currently 61.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. TD Cowen assumed coverage on Truist Financial in a report on Thursday, May 15th. They issued a “hold” rating and a $44.00 price target on the stock. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Raymond James Financial lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

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.