Delap Wealth Advisory LLC Makes New $202,000 Investment in Truist Financial Co. (NYSE:TFC)

Delap Wealth Advisory LLC acquired a new position in Truist Financial Co. (NYSE:TFC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,180 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other large investors have also recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Truist Financial in the first quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter valued at $29,000. Missouri Trust & Investment Co boosted its stake 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 valued at $32,000 after acquiring an additional 593 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter valued at $32,000. Finally, Morton Brown Family Wealth LLC boosted its stake in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TFC shares. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and increased their price objective for the company from $45.00 to $47.00 in a research note on Wednesday. UBS Group raised their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Morgan Stanley raised their price target on Truist Financial from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Barclays boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Hold” and an average price target of $45.05.

Truist Financial Stock Performance

Shares of TFC stock traded up $0.25 on Friday, hitting $44.37. 2,972,135 shares of the stock traded hands, compared to its average volume of 8,497,064. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $59.37 billion, a PE ratio of -33.70, a PEG ratio of 2.07 and a beta of 1.07. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $44.78. The company’s fifty day moving average is $38.72 and its 200 day moving average is $37.70.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. On average, equities research analysts predict that Truist Financial Co. will post 3.56 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.69%. Truist Financial’s dividend payout ratio is currently -157.58%.

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.