Ballew Advisors Inc Makes New Investment in Truist Financial Co. (NYSE:TFC)

Ballew Advisors Inc purchased a new position in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, Holdings Channel.com reports. The fund purchased 5,602 shares of the insurance provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EPG Wealth Management LLC increased its position in shares of Truist Financial by 1.8% during the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock valued at $526,000 after purchasing an additional 213 shares during the period. Williams Jones Wealth Management LLC. increased its position in shares of Truist Financial by 5.8% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 268 shares during the period. Financial Advocates Investment Management increased its position in shares of Truist Financial by 3.5% during the 4th quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock valued at $390,000 after purchasing an additional 306 shares during the period. SVB Wealth LLC increased its position in shares of Truist Financial by 7.9% during the 2nd quarter. SVB Wealth LLC now owns 4,568 shares of the insurance provider’s stock valued at $217,000 after purchasing an additional 335 shares during the period. Finally, Cape Investment Advisory Inc. grew its holdings in shares of Truist Financial by 7.4% in the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after acquiring an additional 335 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. HSBC lifted their target price on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday. Piper Sandler lifted their target price on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” 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. Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $43.00 in a report on Tuesday, March 19th. Finally, Morgan Stanley lifted their target price on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average price target of $40.30.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 1.0 %

Shares of NYSE TFC traded up $0.38 during mid-day trading on Thursday, reaching $38.97. The company had a trading volume of 8,403,567 shares, compared to its average volume of 9,890,929. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $52.01 billion, a PE ratio of -36.08, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. The stock’s 50 day moving average is $36.41 and its 200-day moving average is $33.42.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the business posted $1.30 earnings per share. As a group, equities analysts anticipate that Truist Financial Co. will post 3.39 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Truist Financial Company Profile

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.