Tobam Has $395,000 Holdings in Truist Financial Co. (NYSE:TFC)

Tobam increased its stake in Truist Financial Co. (NYSE:TFCFree Report) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,125 shares of the insurance provider’s stock after buying an additional 1,389 shares during the quarter. Tobam’s holdings in Truist Financial were worth $395,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at approximately $29,000. Missouri Trust & Investment Co raised its stake in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the period. Rise Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at $32,000. Morton Brown Family Wealth LLC raised its stake in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the period. Finally, Northwest Financial Advisors bought a new stake in Truist Financial in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research note on Monday, April 22nd. Evercore ISI restated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a research note on Thursday, May 9th. Barclays began coverage on Truist Financial in a research report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 price objective on the stock. Stephens increased their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, HSBC increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Read Our Latest Analysis on Truist Financial

Truist Financial Price Performance

NYSE:TFC traded up $0.27 during trading hours on Monday, hitting $38.49. The company’s stock had a trading volume of 192,019 shares, compared to its average volume of 8,547,370. The stock has a fifty day simple moving average of $37.95 and a 200-day simple moving average of $37.24. The company has a market capitalization of $51.50 billion, a P/E ratio of -28.95, a PEG ratio of 2.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts anticipate that Truist Financial Co. will post 3.37 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Truist Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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