Community Bank N.A. Acquires 1,284 Shares of Truist Financial Corporation (NYSE:TFC)

Community Bank N.A. lifted its holdings in Truist Financial Corporation (NYSE:TFC) by 1.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 84,009 shares of the insurance provider’s stock after purchasing an additional 1,284 shares during the quarter. Community Bank N.A.’s holdings in Truist Financial were worth $3,457,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TFC. LaFleur & Godfrey LLC raised its holdings in shares of Truist Financial by 4.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider’s stock worth $4,692,000 after acquiring an additional 4,670 shares during the period. Brighton Jones LLC raised its stake in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the period. Congress Asset Management Co. acquired a new stake in shares of Truist Financial in the 4th quarter valued at about $1,387,000. Principal Securities Inc. boosted its position in shares of Truist Financial by 6.2% during the fourth quarter. Principal Securities Inc. now owns 51,899 shares of the insurance provider’s stock worth $2,251,000 after buying an additional 3,041 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of Truist Financial during the fourth quarter worth about $661,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Down 1.0%

Shares of NYSE:TFC opened at $39.01 on Wednesday. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a market capitalization of $51.08 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average of $38.88 and a 200-day moving average of $42.26.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.33%. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Analysts Set New Price Targets

TFC has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Piper Sandler lowered their price target on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. TD Cowen initiated coverage on Truist Financial in a research note on Thursday, May 15th. They set a “hold” rating and a $44.00 price objective on the stock. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Raymond James Financial downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

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.