Choreo LLC Raises Stake in Truist Financial Co. (NYSE:TFC)

Choreo LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 45.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,752 shares of the insurance provider’s stock after purchasing an additional 6,789 shares during the period. Choreo LLC’s holdings in Truist Financial were worth $803,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Valmark Advisers Inc. raised its holdings in Truist Financial by 2.2% during the fourth 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 period. Day & Ennis LLC raised its stake in Truist Financial by 4.3% during the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after purchasing an additional 311 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Truist Financial by 32.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 323 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in Truist Financial by 7.4% in the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after purchasing an additional 335 shares during the period. Finally, Birmingham Capital Management Co. Inc. AL grew its holdings in Truist Financial by 4.1% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock valued at $244,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TFC. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. UBS Group increased their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Piper Sandler boosted their price target on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Finally, TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $38.05 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day moving average of $37.03 and a two-hundred day moving average of $35.05. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during 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 company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, research analysts predict that Truist Financial Co. will post 3.28 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio 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.