Team Hewins LLC Has $290,000 Holdings in Truist Financial Co. (NYSE:TFC)

Team Hewins LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 8.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,440 shares of the insurance provider’s stock after selling 660 shares during the quarter. Team Hewins LLC’s holdings in Truist Financial were worth $290,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TFC. Commonwealth Retirement Investments LLC increased its stake in shares of Truist Financial by 1.2% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 68,332 shares of the insurance provider’s stock valued at $2,664,000 after purchasing an additional 798 shares during the last quarter. Csenge Advisory Group boosted its stake in shares of Truist Financial by 2.1% in the 1st quarter. Csenge Advisory Group now owns 27,924 shares of the insurance provider’s stock valued at $1,088,000 after purchasing an additional 579 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Truist Financial by 1.3% during the 1st quarter. Signaturefd LLC now owns 48,403 shares of the insurance provider’s stock valued at $1,887,000 after purchasing an additional 606 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Truist Financial by 75.4% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 11,481 shares of the insurance provider’s stock worth $448,000 after purchasing an additional 4,936 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in Truist Financial by 9.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 8,603 shares of the insurance provider’s stock valued at $335,000 after purchasing an additional 746 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. HSBC boosted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Citigroup upped 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, Evercore ISI restated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a research report on Thursday, May 9th. One investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Stock Up 2.9 %

NYSE:TFC traded up $1.14 on Thursday, hitting $40.40. The stock had a trading volume of 2,990,404 shares, compared to its average volume of 8,482,131. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51. The firm’s fifty day simple moving average is $38.00 and its two-hundred day simple moving average is $37.28. The stock has a market cap of $54.06 billion, a P/E ratio of -30.39, a price-to-earnings-growth ratio of 2.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Analysts predict that Truist Financial Co. will post 3.37 earnings per share for the current year.

Truist Financial Announces Dividend

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