Physicians Financial Services Inc. Purchases 600 Shares of Truist Financial Co. (NYSE:TFC)

Physicians Financial Services Inc. raised its position in shares of Truist Financial Co. (NYSE:TFC) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,461 shares of the insurance provider’s stock after acquiring an additional 600 shares during the period. Physicians Financial Services Inc.’s holdings in Truist Financial were worth $1,346,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in Truist Financial in the first quarter valued at $25,000. Elequin Securities LLC purchased a new position in Truist Financial in the 4th quarter worth $26,000. Winch Advisory Services LLC purchased a new position in shares of Truist Financial in the first quarter valued at about $26,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 4th quarter valued at about $28,000. Finally, J.Safra Asset Management Corp bought a new stake in Truist Financial during the fourth quarter worth about $29,000. 71.11% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

Truist Financial stock opened at $30.01 on Wednesday. The company has a market cap of $39.97 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 1.73 and a beta of 1.05. The business’s 50 day simple moving average is $31.32 and its 200 day simple moving average is $32.31. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $53.34. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.78.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.08). The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.97 billion. Truist Financial had a return on equity of 11.73% and a net margin of 20.17%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. Sell-side analysts forecast that Truist Financial Co. will post 3.79 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.93%. Truist Financial’s dividend payout ratio is currently 48.15%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Raymond James upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Thursday, July 6th. They noted that the move was a valuation call. Odeon Capital Group lowered shares of Truist Financial from a “buy” rating to a “hold” rating and set a $32.75 price objective for the company. in a research note on Friday, June 16th. Piper Sandler upped their price objective on shares of Truist Financial from $35.00 to $36.00 in a report on Friday, July 21st. Finally, HSBC started coverage on shares of Truist Financial in a research report on Thursday, September 7th. They issued a “hold” rating and a $29.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.04.

About Truist Financial

Truist Financial Corporation, a holding 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.