Stevens Capital Management LP Buys New Stake in Truist Financial Co. (NYSE:TFC)

Stevens Capital Management LP bought a new stake in Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 13,729 shares of the insurance provider’s stock, valued at approximately $507,000.

Several other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Truist Financial during the third quarter worth $26,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial in the third quarter valued at about $31,000. Tyler Stone Wealth Management purchased a new stake in shares of Truist Financial in the third quarter valued at about $33,000. Morton Brown Family Wealth LLC grew its holdings in shares of Truist Financial by 236.0% in 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 during the period. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Truist Financial in the third quarter valued at about $36,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 2.1 %

Shares of NYSE TFC traded down $0.81 during midday trading on Thursday, hitting $37.98. The company’s stock had a trading volume of 7,241,235 shares, compared to its average volume of 9,665,404. The business’s fifty day simple moving average is $36.83 and its two-hundred day simple moving average is $34.73. 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 1 year low of $25.56 and a 1 year high of $39.29. The firm has a market capitalization of $50.69 billion, a price-to-earnings ratio of -28.66, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. The firm 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 firm’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. On average, equities analysts predict that Truist Financial Co. will post 3.26 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.48%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Tuesday. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, January 4th. Citigroup upped their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Monday. Finally, Barclays increased their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.97.

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.