Aviance Capital Partners LLC Buys Shares of 8,505 Truist Financial Co. (NYSE:TFC)

Aviance Capital Partners LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) during the first quarter, Holdings Channel reports. The institutional investor purchased 8,505 shares of the insurance provider’s stock, valued at approximately $332,000.

Several other institutional investors have also recently made changes to their positions in TFC. Opal Wealth Advisors LLC purchased a new stake in Truist Financial during the first quarter worth $29,000. Missouri Trust & Investment Co raised its position in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter worth $32,000. Morton Brown Family Wealth LLC boosted its position in 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 purchasing an additional 649 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new position in Truist Financial in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of several analyst reports. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. HSBC raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. UBS Group upped their price target on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group raised their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Truist Financial Price Performance

TFC traded up $0.34 during trading on Monday, reaching $39.19. 804,733 shares of the company’s stock were exchanged, compared to its average volume of 8,618,755. 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 Co. has a 1 year low of $26.57 and a 1 year high of $40.51. The company’s fifty day simple moving average is $37.89 and its 200-day simple moving average is $37.16.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were issued a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.31%. Truist Financial’s dividend payout ratio (DPR) is presently -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.