Truist Financial Co. (NYSE:TFC) Shares Purchased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 42.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,553 shares of the insurance provider’s stock after purchasing an additional 4,017 shares during the period. Nicolet Advisory Services LLC’s holdings in Truist Financial were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Truist Financial by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after acquiring an additional 883,416 shares in the last quarter. Norges Bank acquired a new stake in Truist Financial in the fourth quarter valued at $307,787,000. Capital International Investors raised its holdings in Truist Financial by 1.3% in the fourth quarter. Capital International Investors now owns 6,010,749 shares of the insurance provider’s stock valued at $222,005,000 after acquiring an additional 77,890 shares in the last quarter. Finally, UBS Group AG raised its holdings in Truist Financial by 2.7% in the fourth quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock valued at $144,507,000 after acquiring an additional 101,288 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

TFC traded down $0.03 on Friday, reaching $42.41. The company had a trading volume of 9,976,073 shares, compared to its average volume of 7,032,081. The company has a fifty day moving average of $38.38 and a 200-day moving average of $37.51. The company has a market capitalization of $56.75 billion, a P/E ratio of -32.13, a PEG ratio of 2.12 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a one year low of $26.57 and a one year high of $43.46.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.44 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.90%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analysts Set New Price Targets

TFC has been the topic of several recent analyst reports. HSBC upped their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup boosted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average target price of $43.28.

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.