Financial Management Professionals Inc. Purchases 979 Shares of Truist Financial Co. (NYSE:TFC)

Financial Management Professionals Inc. boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 13.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,538 shares of the insurance provider’s stock after purchasing an additional 979 shares during the quarter. Financial Management Professionals Inc.’s holdings in Truist Financial were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Truist Financial in the first quarter valued at approximately $29,000. Rise Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter worth $32,000. Missouri Trust & Investment Co increased its holdings in Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Northwest Financial Advisors acquired a new position in Truist Financial in the fourth quarter valued at about $34,000. Finally, Morton Brown Family Wealth LLC boosted its holdings in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after buying an additional 649 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TFC has been the topic of a number of analyst reports. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. HSBC lifted their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Barclays initiated coverage on shares of Truist Financial in a research report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective for the company. Evercore ISI reissued an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a research note on Thursday, May 9th. Finally, Stephens increased their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Stock Up 2.7 %

Truist Financial stock opened at $38.85 on Friday. The company has a fifty day simple moving average of $37.89 and a 200 day simple moving average of $37.15. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $40.51. The company has a market cap of $51.99 billion, a P/E ratio of -29.43, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. Research analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors 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 annualized dividend and a dividend yield of 5.35%. 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.