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

Ballew Advisors Inc acquired a new position in Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,602 shares of the insurance provider’s stock, valued at approximately $203,000.

Several other hedge funds have also bought and sold shares of TFC. Moneta Group Investment Advisors LLC lifted its position in shares of Truist Financial by 12,034.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after buying an additional 20,321,500 shares in the last quarter. Norges Bank purchased a new position in shares of Truist Financial during the 4th quarter valued at approximately $553,718,000. Morgan Stanley lifted its position in shares of Truist Financial by 32.6% during the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Truist Financial by 65.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock valued at $258,893,000 after buying an additional 2,992,820 shares in the last quarter. Finally, Imprint Wealth LLC lifted its position in shares of Truist Financial by 3,152.2% during the 2nd quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock valued at $272,658,000 after buying an additional 2,642,737 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TFC. HSBC increased their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday. UBS Group raised their price objective on Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays raised their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Odeon Capital Group upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective on the stock in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.30.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred 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 completion of 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 through the SEC website. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 1.0 %

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

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 the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion during 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 quarter last year, the business posted $1.30 EPS. As a group, equities research analysts forecast that Truist Financial Co. will post 3.39 earnings per share for the current year.

Truist Financial Announces Dividend

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