Merit Financial Group LLC Purchases 3,564 Shares of Truist Financial Co. (NYSE:TFC)

Merit Financial Group LLC raised its position in Truist Financial Co. (NYSE:TFC) by 31.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,906 shares of the insurance provider’s stock after acquiring an additional 3,564 shares during the period. Merit Financial Group LLC’s holdings in Truist Financial were worth $550,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Truist Financial in the 3rd quarter valued at approximately $26,000. Operose Advisors LLC bought a new stake in Truist Financial in the 3rd quarter valued at approximately $31,000. Tyler Stone Wealth Management acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $33,000. Morton Brown Family Wealth LLC increased its position in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $36,000. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Stephens reaffirmed an “overweight” rating and set a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. Royal Bank of Canada boosted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Finally, HSBC boosted their target price on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price of $41.88.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the 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 sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $39.11 on Wednesday. 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 stock’s fifty day moving average price is $37.34 and its two-hundred day moving average price is $35.39. Truist Financial Co. has a one year low of $26.49 and a one year high of $40.35. The firm has a market cap of $52.20 billion, a price-to-earnings ratio of -29.63, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts forecast that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.32%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is currently -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.