Moisand Fitzgerald Tamayo LLC Has $701,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Moisand Fitzgerald Tamayo LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,990 shares of the insurance provider’s stock after selling 1,259 shares during the period. Moisand Fitzgerald Tamayo LLC’s holdings in Truist Financial were worth $701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Operose Advisors LLC acquired a new position in Truist Financial during the 3rd quarter valued at about $31,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Truist Financial by 21.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 35,464 shares of the insurance provider’s stock valued at $1,015,000 after purchasing an additional 6,181 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Truist Financial by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 599,785 shares of the insurance provider’s stock valued at $17,160,000 after purchasing an additional 2,180 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Truist Financial by 37.8% during the third quarter. Qube Research & Technologies Ltd now owns 2,700,400 shares of the insurance provider’s stock worth $77,258,000 after purchasing an additional 740,722 shares during the last quarter. Finally, Staley Capital Advisers Inc. grew its position in Truist Financial by 16.3% in the 3rd quarter. Staley Capital Advisers Inc. now owns 21,509 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 3,009 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several recent analyst reports. Stephens lifted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. HSBC lifted their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a research note on Thursday, May 9th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, Wells Fargo & Company raised their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Price Performance

Shares of NYSE:TFC traded up $1.01 during trading on Friday, hitting $38.85. 9,600,184 shares of the company’s stock were exchanged, compared to its average volume of 7,012,324. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. 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 company has a market cap of $51.99 billion, a price-to-earnings ratio of -29.43, a PEG ratio of 1.99 and a beta of 1.06. The business’s 50-day simple moving average is $37.89 and its 200 day simple moving average is $37.13.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. As a group, equities analysts predict that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Announces Dividend

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

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.