CVA Family Office LLC Makes New Investment in Truist Financial Co. (NYSE:TFC)

CVA Family Office LLC purchased a new stake in Truist Financial Co. (NYSE:TFCFree Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,939 shares of the insurance provider’s stock, valued at approximately $219,000.

A number of other institutional investors have also made changes to their positions in the business. Fairfield Bush & CO. bought a new position in Truist Financial in the 1st quarter worth approximately $25,000. Quarry LP bought a new stake in Truist Financial in the 1st quarter valued at $32,000. OFI Invest Asset Management bought a new stake in Truist Financial in the 3rd quarter valued at $26,000. Union Savings Bank acquired a new stake in Truist Financial in the 2nd quarter worth $36,000. Finally, Operose Advisors LLC acquired a new position in shares of Truist Financial during the third quarter valued at about $31,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $37.69 on Monday. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $38.55. The firm’s 50-day simple moving average is $36.31 and its 200 day simple moving average is $33.27. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFCGet Free Report) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business earned $1.30 earnings per share. Research analysts predict that Truist Financial Co. will post 3.35 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.52%. Truist Financial’s payout ratio is currently -192.59%.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TFC shares. UBS Group lifted their target price on Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Raymond James boosted their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Royal Bank of Canada raised their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, January 4th. Finally, Barclays raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $39.47.

Get Our Latest Report on Truist Financial

About Truist Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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