Patriot Financial Group Insurance Agency LLC Purchases 394 Shares of Truist Financial Co. (NYSE:TFC)

Patriot Financial Group Insurance Agency LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,218 shares of the insurance provider’s stock after buying an additional 394 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Truist Financial were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TFC. Capital International Investors lifted its position in shares of Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Norges Bank purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $402,828,000. FMR LLC increased its stake in shares of Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after purchasing an additional 5,457,053 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $198,051,000. Finally, Northern Trust Corp increased its stake in shares of Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after purchasing an additional 2,452,239 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Piper Sandler decreased their price target on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Argus set a $43.00 price target on shares of Truist Financial in a research note on Monday, April 21st. Finally, Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial Stock Down 0.5%

TFC opened at $40.44 on Tuesday. The company has a fifty day moving average price of $38.40 and a 200-day moving average price of $42.56. The firm has a market capitalization of $52.96 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates 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 business earned $0.90 EPS. Equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.14%. Truist Financial’s dividend payout ratio (DPR) is presently 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.