Rehmann Capital Advisory Group Has $335,000 Stock Position in Truist Financial Co. (NYSE:TFC)

Rehmann Capital Advisory Group increased its position in shares of Truist Financial Co. (NYSE:TFC) by 9.5% in the 1st quarter, HoldingsChannel reports. The firm owned 8,603 shares of the insurance provider’s stock after acquiring an additional 746 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Truist Financial were worth $335,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TFC. Opal Wealth Advisors LLC bought a new position in Truist Financial in the first quarter valued at approximately $29,000. Missouri Trust & Investment Co increased its stake in shares of Truist Financial by 227.2% in the 4th 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. Rise Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter worth $32,000. Morton Brown Family Wealth LLC raised its holdings in shares of Truist Financial by 236.0% during the 4th 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 in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Truist Financial during the 4th quarter worth $34,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TFC shares. HSBC increased their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. Stephens raised their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Barclays assumed coverage on shares of Truist Financial in a report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 target price on the stock. Finally, Citigroup increased their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Stock Up 2.0 %

Shares of NYSE TFC traded up $0.77 during trading on Thursday, hitting $40.03. The stock had a trading volume of 1,282,020 shares, compared to its average volume of 8,467,839. The firm has a fifty day moving average of $38.00 and a two-hundred day moving average of $37.28. The company has a market capitalization of $53.56 billion, a PE ratio of -29.73, a PEG ratio of 2.00 and a beta of 1.07. 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 12 month low of $26.57 and a 12 month high of $40.51.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts forecast that Truist Financial Co. will post 3.37 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.20%. Truist Financial’s dividend payout ratio (DPR) is currently -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.