VSM Wealth Advisory LLC Invests $214,000 in Truist Financial Co. (NYSE:TFC)

VSM Wealth Advisory LLC bought a new position in Truist Financial Co. (NYSE:TFC) in the 4th quarter, Holdings Channel.com reports. The fund bought 4,930 shares of the insurance provider’s stock, valued at approximately $214,000.

Several other hedge funds also recently bought and sold shares of TFC. Harbour Investments Inc. boosted its holdings in Truist Financial by 14.2% in the 3rd quarter. Harbour Investments Inc. now owns 4,313 shares of the insurance provider’s stock worth $184,000 after buying an additional 537 shares during the period. Natixis Advisors LLC boosted its holdings in Truist Financial by 7.3% in the 3rd quarter. Natixis Advisors LLC now owns 451,576 shares of the insurance provider’s stock worth $19,314,000 after buying an additional 30,626 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Truist Financial by 17.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock worth $3,518,000 after buying an additional 12,300 shares during the period. Quest Partners LLC boosted its holdings in Truist Financial by 81.1% in the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock worth $203,000 after buying an additional 2,129 shares during the period. Finally, Cassaday & Co Wealth Management LLC boosted its holdings in Truist Financial by 24.0% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 13,530 shares of the insurance provider’s stock worth $579,000 after buying an additional 2,617 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on TFC shares. Raymond James increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Compass Point increased their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Performance

Truist Financial stock opened at $40.84 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1-year low of $35.06 and a 1-year high of $49.06. The firm has a market capitalization of $53.32 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company’s 50-day moving average is $45.26 and its 200 day moving average is $44.52.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.