Rossby Financial LCC Buys Shares of 1,130 Truist Financial Corporation (NYSE:TFC)

Rossby Financial LCC bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,130 shares of the insurance provider’s stock, valued at approximately $43,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. FWG Holdings LLC grew its position in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 234 shares during the last quarter. TIAA Trust National Association grew its position in shares of Truist Financial by 1.2% during the fourth quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider’s stock worth $1,033,000 after acquiring an additional 283 shares during the last quarter. TCTC Holdings LLC grew its position in shares of Truist Financial by 28.1% during the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 287 shares during the last quarter. Meeder Advisory Services Inc. grew its position in shares of Truist Financial by 1.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider’s stock worth $1,231,000 after acquiring an additional 288 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its position in shares of Truist Financial by 4.8% during the fourth quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 291 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $45.23 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a market capitalization of $59.23 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.69 and a beta of 0.85. The firm has a 50-day moving average of $40.44 and a two-hundred day moving average of $41.94.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s dividend payout ratio is presently 61.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Raymond James Financial downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Morgan Stanley reduced their price objective on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Argus set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 21st. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.44.

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.