LVW Advisors LLC Boosts Holdings in Truist Financial Co. (NYSE:TFC)

LVW Advisors LLC lifted its stake in Truist Financial Co. (NYSE:TFC) by 25.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,662 shares of the insurance provider’s stock after buying an additional 4,394 shares during the period. LVW Advisors LLC’s holdings in Truist Financial were worth $844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TFC. Valmark Advisers Inc. boosted its stake in Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 277 shares during the last quarter. St. Johns Investment Management Company LLC lifted its position in shares of Truist Financial by 0.9% in the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after buying an additional 296 shares during the last quarter. Mechanics Financial Corp lifted its position in shares of Truist Financial by 7.4% in the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after buying an additional 300 shares during the last quarter. Day & Ennis LLC lifted its position in shares of Truist Financial by 4.3% in the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after buying an additional 311 shares during the last quarter. Finally, Carson Advisory Inc. lifted its position in shares of Truist Financial by 1.5% in the 4th quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after buying an additional 315 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Jefferies Financial Group raised their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Piper Sandler raised their price target on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Wells Fargo & Company increased their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. HSBC increased their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Barclays began coverage on shares of Truist Financial in a report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Stock Performance

Truist Financial stock opened at $39.25 on Tuesday. The company’s 50-day moving average price is $37.89 and its two-hundred day moving average price is $37.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations 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 revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, analysts expect that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.30%. Truist Financial’s dividend payout ratio is currently -157.58%.

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.