Benjamin F. Edwards & Company Inc. Boosts Position in Truist Financial Co. (NYSE:TFC)

Benjamin F. Edwards & Company Inc. lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 35.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 82,602 shares of the insurance provider’s stock after acquiring an additional 21,663 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Truist Financial were worth $3,049,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TFC. Los Angeles Capital Management LLC acquired a new stake in shares of Truist Financial during the fourth quarter valued at $255,000. Natixis Advisors L.P. boosted its stake in shares of Truist Financial by 30.9% during the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock valued at $13,783,000 after acquiring an additional 88,035 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Truist Financial by 3.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 748,240 shares of the insurance provider’s stock valued at $27,625,000 after acquiring an additional 22,645 shares during the last quarter. Mechanics Financial Corp boosted its stake in shares of Truist Financial by 7.4% during the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after acquiring an additional 300 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Truist Financial by 81.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 29,958 shares of the insurance provider’s stock valued at $1,106,000 after acquiring an additional 13,462 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

TFC opened at $38.85 on Friday. The stock’s 50 day moving average price is $37.16 and its 200 day moving average price is $35.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29.

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. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. On average, analysts anticipate that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.35%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TFC. Keefe, Bruyette & Woods raised their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Piper Sandler raised their price target on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research note on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.88.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

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.