City Holding Co. Acquires 4,720 Shares of Truist Financial Co. (NYSE:TFC)

City Holding Co. boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 31.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,782 shares of the insurance provider’s stock after buying an additional 4,720 shares during the quarter. City Holding Co.’s holdings in Truist Financial were worth $771,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. LPL Financial LLC lifted its stake in shares of Truist Financial by 11.2% in the third quarter. LPL Financial LLC now owns 2,601,119 shares of the insurance provider’s stock valued at $74,418,000 after buying an additional 261,104 shares during the period. Mariner LLC lifted its stake in Truist Financial by 24.8% during the third quarter. Mariner LLC now owns 332,955 shares of the insurance provider’s stock worth $9,526,000 after purchasing an additional 66,069 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in Truist Financial by 6.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 79,895 shares of the insurance provider’s stock worth $2,286,000 after purchasing an additional 4,872 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Truist Financial by 5.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,396 shares of the insurance provider’s stock worth $1,213,000 after purchasing an additional 2,020 shares during the period. Finally, Covestor Ltd lifted its stake in Truist Financial by 14.0% during the third quarter. Covestor Ltd now owns 4,976 shares of the insurance provider’s stock worth $142,000 after purchasing an additional 611 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 1.8 %

Shares of NYSE:TFC traded up $0.68 during midday trading on Monday, hitting $37.47. The company had a trading volume of 972,105 shares, compared to its average volume of 8,627,956. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market cap of $50.14 billion, a price-to-earnings ratio of -27.87, a PEG ratio of 1.81 and a beta of 1.06. The firm has a fifty day simple moving average of $37.74 and a 200 day simple moving average of $37.05.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were given 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 5.55%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TFC. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Stephens raised their price target on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Citigroup raised their price target on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a report on Monday, April 22nd. Finally, StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.17.

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.