Truist Financial Co. (NYSE:TFC) Shares Acquired by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. increased its position in shares of Truist Financial Co. (NYSE:TFC) by 246.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,909 shares of the insurance provider’s stock after purchasing an additional 25,533 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Truist Financial were worth $1,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Missouri Trust & Investment Co raised its holdings in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares in the last quarter. Northwest Financial Advisors bought a new position in shares of Truist Financial in the fourth quarter valued at $34,000. Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Truist Financial in the fourth quarter valued at $38,000. Finally, Operose Advisors LLC bought a new position in shares of Truist Financial in the third quarter valued at $31,000. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on TFC shares. Keefe, Bruyette & Woods upped their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Barclays started coverage on shares of Truist Financial in a research note on Thursday, May 16th. They set an “equal weight” rating and a $43.00 target price on the stock. UBS Group boosted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Trading Up 2.2 %

Truist Financial stock opened at $36.57 on Wednesday. The company’s fifty day simple moving average is $37.77 and its 200-day simple moving average is $36.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The stock has a market cap of $48.93 billion, a P/E ratio of -27.70, a P/E/G ratio of 1.77 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 company posted $1.09 EPS. Truist Financial’s revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

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.