Truist Financial Co. (NYSE:TFC) Shares Bought by Evolution Advisers Inc.

Evolution Advisers Inc. raised its stake in Truist Financial Co. (NYSE:TFC) by 49.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,509 shares of the insurance provider’s stock after purchasing an additional 500 shares during the period. Evolution Advisers Inc.’s holdings in Truist Financial were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in TFC. Day & Ennis LLC lifted its stake in shares of Truist Financial by 4.3% during the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 311 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Truist Financial by 32.0% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 323 shares in the last quarter. Cape Investment Advisory Inc. lifted its stake in shares of Truist Financial by 7.4% during the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 335 shares in the last quarter. Birmingham Capital Management Co. Inc. AL lifted its stake in shares of Truist Financial by 4.1% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 335 shares in the last quarter. Finally, Farmers Trust Co. lifted its stake in shares of Truist Financial by 2.8% during the fourth quarter. Farmers Trust Co. now owns 12,190 shares of the insurance provider’s stock worth $450,000 after purchasing an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.81 during midday trading on Thursday, hitting $37.98. The company’s stock had a trading volume of 7,241,235 shares, compared to its average volume of 9,665,404. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $50.69 billion, a price-to-earnings ratio of -28.77, a PEG ratio of 2.45 and a beta of 1.08. The stock’s 50 day simple moving average is $36.86 and its 200 day simple moving average is $34.75.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the company earned $1.09 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Truist Financial Co. will post 3.26 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Analysts Set New Price Targets

Several brokerages recently weighed in on TFC. Piper Sandler boosted their price objective on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $42.00 in a report on Tuesday. Stephens reissued an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Tuesday. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Finally, Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.97.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by insiders.

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.