Nalls Sherbakoff Group LLC Buys New Stake in Truist Financial Corporation $TFC

Nalls Sherbakoff Group LLC bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the 4th quarter, Holdings Channel reports. The firm bought 11,622 shares of the insurance provider’s stock, valued at approximately $572,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. boosted its holdings in shares of Truist Financial by 30.0% in the third quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock valued at $7,994,000 after acquiring an additional 40,393 shares in the last quarter. Legal & General Group Plc raised its holdings in Truist Financial by 9.0% during the third quarter. Legal & General Group Plc now owns 7,902,804 shares of the insurance provider’s stock worth $361,316,000 after purchasing an additional 655,542 shares in the last quarter. Equitable Trust Co. raised its holdings in Truist Financial by 48.9% during the third quarter. Equitable Trust Co. now owns 118,261 shares of the insurance provider’s stock worth $5,407,000 after purchasing an additional 38,850 shares in the last quarter. Cadence Bank raised its holdings in Truist Financial by 8.0% during the third quarter. Cadence Bank now owns 335,969 shares of the insurance provider’s stock worth $15,361,000 after purchasing an additional 24,745 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in Truist Financial by 91.9% in the fourth quarter. Ritholtz Wealth Management now owns 45,749 shares of the insurance provider’s stock worth $2,251,000 after purchasing an additional 21,903 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 0.0%

Shares of NYSE:TFC opened at $48.33 on Friday. The stock has a market capitalization of $60.21 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.83 and a beta of 0.89. Truist Financial Corporation has a 1-year low of $39.94 and a 1-year high of $56.19. The company has a 50 day moving average price of $49.16 and a 200 day moving average price of $49.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. On average, research analysts anticipate that Truist Financial Corporation will post 4.5 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Truist Financial’s payout ratio is 51.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TFC. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. decreased their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Friday, May 1st. Finally, Morgan Stanley lowered their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.79.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.