GAMMA Investing LLC Has $325,000 Position in Truist Financial Co. (NYSE:TFC)

GAMMA Investing LLC raised its stake in Truist Financial Co. (NYSE:TFC) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,333 shares of the insurance provider’s stock after buying an additional 1,005 shares during the quarter. GAMMA Investing LLC’s holdings in Truist Financial were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TFC. Operose Advisors LLC acquired a new position in Truist Financial in the 3rd quarter worth $31,000. Missouri Trust & Investment Co boosted 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 buying an additional 593 shares during the period. Tyler Stone Wealth Management acquired a new stake in Truist Financial in the 3rd quarter valued at approximately $33,000. Morton Brown Family Wealth LLC boosted its position in Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. Finally, Northwest Financial Advisors bought a new position in shares of Truist Financial during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $36.57 on Thursday. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51. The stock has a market cap of $48.93 billion, a PE ratio of -27.70, a P/E/G ratio of 1.81 and a beta of 1.06. The firm has a 50-day moving average of $37.75 and a 200-day moving average of $36.97. 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 quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.69%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TFC. Piper Sandler increased their target price on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. HSBC raised their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Wells Fargo & Company increased their price target on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Stephens boosted their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Keefe, Bruyette & Woods increased their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target 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.