FORVIS Wealth Advisors LLC Has $1.02 Million Position in Truist Financial Co. (NYSE:TFC)

FORVIS Wealth Advisors LLC lessened its position in Truist Financial Co. (NYSE:TFC) by 15.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,239 shares of the insurance provider’s stock after selling 4,964 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Truist Financial were worth $1,023,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter valued at $29,000. Missouri Trust & Investment Co lifted its position in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Truist Financial during the first quarter valued at approximately $32,000. Morton Brown Family Wealth LLC increased its holdings in shares of Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares in the last quarter. Finally, Northwest Financial Advisors bought a new position in Truist Financial in the 4th quarter worth approximately $34,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 1.7 %

NYSE TFC traded down $0.69 during trading hours on Thursday, hitting $38.87. 3,976,693 shares of the company traded hands, compared to its average volume of 7,089,834. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of -29.45, a P/E/G ratio of 2.08 and a beta of 1.07. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $40.51. The business’s 50-day moving average is $37.93 and its 200-day moving average is $37.20. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. Sell-side analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. The ex-dividend date was Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TFC shares. JPMorgan Chase & Co. lifted their target price on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Stephens boosted their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. HSBC upped their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Jefferies Financial Group boosted their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.17.

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.