Imprint Wealth LLC Grows Holdings in Truist Financial Co. (NYSE:TFC)

Imprint Wealth LLC increased its stake in Truist Financial Co. (NYSE:TFC) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 85,968 shares of the insurance provider’s stock after acquiring an additional 380 shares during the period. Truist Financial makes up about 2.5% of Imprint Wealth LLC’s investment portfolio, making the stock its 4th biggest holding. Imprint Wealth LLC’s holdings in Truist Financial were worth $3,174,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $25,000. United Bank grew its holdings in shares of Truist Financial by 4.1% in the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after purchasing an additional 2,938 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Truist Financial by 33.3% in the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock worth $1,495,000 after buying an additional 6,593 shares during the period. Vontobel Holding Ltd. lifted its holdings in Truist Financial by 3.3% during the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after buying an additional 738 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Truist Financial by 8.1% in the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after buying an additional 4,234 shares during the period. Institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, 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 can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. HSBC raised their target price on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Raymond James raised their price target on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, UBS Group upped their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average target price of $41.47.

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.87 on Tuesday, hitting $35.83. 5,799,917 shares of the company were exchanged, compared to its average volume of 9,629,630. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average price is $36.64 and its 200 day moving average price is $34.31. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The firm has a market capitalization of $47.82 billion, a P/E ratio of -33.99, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the company earned $1.30 earnings per share. Sell-side analysts predict that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.81%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

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.