Fonville Wealth Management LLC Takes $225,000 Position in Truist Financial Co. (NYSE:TFC)

Fonville Wealth Management LLC bought a new position in Truist Financial Co. (NYSE:TFC) during the fourth quarter, HoldingsChannel reports. The firm bought 6,105 shares of the insurance provider’s stock, valued at approximately $225,000.

Several other hedge funds have also bought and sold shares of TFC. Fairfield Bush & CO. bought a new position in shares of Truist Financial in the first quarter valued at $25,000. OFI Invest Asset Management bought a new position in Truist Financial in the 3rd quarter valued at about $26,000. Operose Advisors LLC acquired a new position in Truist Financial during the 3rd quarter valued at about $31,000. Quarry LP bought a new stake in Truist Financial during the 1st quarter worth approximately $32,000. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Truist Financial in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James lifted their target price on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Piper Sandler increased their target price on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $41.00 to $43.00 in a report on Tuesday, March 19th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.47.

Truist Financial Stock Performance

Shares of TFC traded up $0.05 during mid-day trading on Thursday, hitting $35.71. The stock had a trading volume of 5,751,080 shares, compared to its average volume of 9,671,263. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $47.66 billion, a P/E ratio of -33.05, a PEG ratio of 2.20 and a beta of 1.08. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The business has a fifty day moving average price of $36.62 and a 200-day moving average price of $34.36.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the previous year, the business posted $1.30 EPS. On average, equities research analysts expect that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Truist Financial 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.