Mayfair Advisory Group LLC Grows Stock Position in Truist Financial Co. (NYSE:TFC)

Mayfair Advisory Group LLC lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,442 shares of the insurance provider’s stock after purchasing an additional 1,895 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Truist Financial were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bleakley Financial Group LLC increased its holdings in shares of Truist Financial by 6.1% in the fourth quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 1,731 shares during the period. Natixis Advisors L.P. increased its stake in Truist Financial by 30.9% in the 4th quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after acquiring an additional 88,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Truist Financial by 53.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after acquiring an additional 117,524 shares in the last quarter. Parnassus Investments LLC bought a new stake in shares of Truist Financial during the 4th quarter valued at about $95,049,000. Finally, Rafferty Asset Management LLC boosted its position in shares of Truist Financial by 47.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after acquiring an additional 382,976 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Stephens upped their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. HSBC raised their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Trading Up 2.7 %

TFC traded up $1.01 during trading on Friday, hitting $38.85. 9,600,184 shares of the stock traded hands, compared to its average volume of 7,012,324. The firm has a market capitalization of $51.99 billion, a P/E ratio of -29.43, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average of $37.89 and a 200 day moving average of $37.16.

Truist Financial (NYSE:TFC) last posted its earnings results 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. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business posted $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

About Truist Financial

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.