Farmers & Merchants Investments Inc. Sells 10,289 Shares of Truist Financial Co. (NYSE:TFC)

Farmers & Merchants Investments Inc. lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 33.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,030 shares of the insurance provider’s stock after selling 10,289 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Truist Financial were worth $781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Aviance Capital Partners LLC bought a new stake in shares of Truist Financial during the first quarter worth about $332,000. LVW Advisors LLC boosted its position in Truist Financial by 25.4% during the 1st quarter. LVW Advisors LLC now owns 21,662 shares of the insurance provider’s stock worth $844,000 after buying an additional 4,394 shares during the period. Mayfair Advisory Group LLC grew its holdings in Truist Financial by 13.0% during the 1st quarter. Mayfair Advisory Group LLC now owns 16,442 shares of the insurance provider’s stock worth $641,000 after acquiring an additional 1,895 shares during the last quarter. SteelPeak Wealth LLC increased its position in Truist Financial by 3.6% in the 1st quarter. SteelPeak Wealth LLC now owns 224,380 shares of the insurance provider’s stock valued at $8,746,000 after acquiring an additional 7,890 shares during the period. Finally, Cornerstone Wealth Group LLC raised its stake in shares of Truist Financial by 2.0% during the first quarter. Cornerstone Wealth Group LLC now owns 117,402 shares of the insurance provider’s stock valued at $4,576,000 after acquiring an additional 2,248 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TFC. HSBC increased their price objective 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 restated an “in-line” rating and set a $44.00 price objective on shares of Truist Financial in a research report on Thursday, May 9th. Barclays began coverage on Truist Financial in a report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 target price on the stock. Jefferies Financial Group increased their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Stephens boosted their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Stock Performance

Shares of TFC opened at $39.56 on Wednesday. Truist Financial Co. has a one year low of $26.57 and a one year high of $40.51. The company has a market cap of $52.94 billion, a PE ratio of -29.97, a P/E/G ratio of 2.04 and a beta of 1.07. The stock has a 50-day moving average of $37.92 and a 200-day moving average of $37.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities research analysts predict 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. Shareholders of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.26%. Truist Financial’s payout ratio is -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.