Disciplined Equity Management Inc. Makes New Investment in Truist Financial Co. (NYSE:TFC)

Disciplined Equity Management Inc. bought a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 51,290 shares of the insurance provider’s stock, valued at approximately $1,999,000. Truist Financial comprises about 1.3% of Disciplined Equity Management Inc.’s investment portfolio, making the stock its 8th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Truist Financial in the fourth quarter valued at about $307,787,000. Parnassus Investments LLC purchased a new stake in Truist Financial in the fourth quarter worth $95,049,000. Azora Capital LP bought a new stake in shares of Truist Financial in the fourth quarter valued at $72,498,000. Charles Schwab Investment Management Inc. lifted its position in shares of Truist Financial by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after acquiring an additional 1,261,598 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

TFC stock traded up $1.12 during mid-day trading on Thursday, hitting $40.38. 6,296,085 shares of the stock were exchanged, compared to its average volume of 8,507,174. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $54.03 billion, a price-to-earnings ratio of -30.39, a PEG ratio of 2.00 and a beta of 1.07. The business has a fifty day moving average price of $38.00 and a 200 day moving average price of $37.28. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.37 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.15%. Truist Financial’s payout ratio is currently -157.58%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Wells Fargo & Company lifted their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. HSBC raised their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Stephens increased their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Piper Sandler raised their target price on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

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.