First Bank & Trust Buys 1,899 Shares of Truist Financial Co. (NYSE:TFC)

First Bank & Trust raised its stake in Truist Financial Co. (NYSE:TFC) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,168 shares of the insurance provider’s stock after buying an additional 1,899 shares during the period. First Bank & Trust’s holdings in Truist Financial were worth $2,034,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Truist Financial in the 4th quarter worth about $307,787,000. Parnassus Investments LLC bought a new position in Truist Financial during the fourth quarter valued at approximately $95,049,000. Azora Capital LP purchased a new position in shares of Truist Financial during the fourth quarter worth approximately $72,498,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after acquiring an additional 1,458,248 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Truist Financial by 9,218.0% in the fourth quarter. Panagora Asset Management Inc. now owns 1,205,191 shares of the insurance provider’s stock worth $44,496,000 after purchasing an additional 1,192,257 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 2.7 %

TFC traded up $1.01 on Friday, hitting $38.85. The company had a trading volume of 9,600,184 shares, compared to its average volume of 7,012,324. The stock has a fifty day simple moving average of $37.89 and a 200-day simple moving average of $37.15. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $51.99 billion, a P/E ratio of -29.43, a P/E/G ratio of 1.99 and a beta of 1.06. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51.

Truist Financial (NYSE:TFC) last released its 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. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. As a group, equities analysts expect that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TFC shares. HSBC raised their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Stephens lifted their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, UBS Group upped their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

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.