Corient Private Wealth LLC Raises Holdings in Truist Financial Co. (NYSE:TFC)

Corient Private Wealth LLC lifted its stake in Truist Financial Co. (NYSE:TFC) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 609,011 shares of the insurance provider’s stock after buying an additional 37,332 shares during the quarter. Corient Private Wealth LLC’s holdings in Truist Financial were worth $22,485,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Operose Advisors LLC purchased a new position in Truist Financial during the third quarter worth approximately $31,000. Missouri Trust & Investment Co boosted its position 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. Tyler Stone Wealth Management purchased a new position in Truist Financial during the third quarter worth approximately $33,000. Morton Brown Family Wealth LLC boosted its position 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 purchasing an additional 649 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new position in Truist Financial during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Wells Fargo & Company increased their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. UBS Group increased their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Citigroup increased their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Barclays started coverage on Truist Financial in a report on Thursday, May 16th. They set an “equal weight” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Truist Financial Trading Down 1.6 %

TFC stock opened at $38.25 on Friday. The business has a fifty day moving average of $38.08 and a two-hundred day moving average of $36.20. 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 Co. has a 52-week low of $26.57 and a 52-week high of $40.51.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company 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 earned $1.09 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.44%. Truist Financial’s 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.