6,105 Shares in Truist Financial Co. (NYSE:TFC) Acquired by Fonville Wealth Management LLC

Fonville Wealth Management LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,105 shares of the insurance provider’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently added to or reduced their stakes in TFC. Moneta Group Investment Advisors LLC lifted its stake in Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares during the last quarter. Norges Bank bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $553,718,000. Morgan Stanley raised its position in shares of Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after purchasing an additional 3,813,439 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Truist Financial by 65.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock valued at $258,893,000 after purchasing an additional 2,992,820 shares during the period. Finally, Imprint Wealth LLC raised its position in shares of Truist Financial by 3,152.2% in the second quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock valued at $272,658,000 after purchasing an additional 2,642,737 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TFC shares. Barclays lifted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Jefferies Financial Group boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Raymond James boosted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. One research 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. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average price target of $41.47.

Truist Financial Stock Performance

TFC traded up $0.05 during trading on Thursday, reaching $35.71. 5,751,080 shares of the company’s stock were exchanged, compared to its average volume of 9,671,263. 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 quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $36.62 and a 200 day moving average price of $34.36. The company has a market capitalization 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 (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the company earned $1.30 EPS. As a group, analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following 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 can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

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.