Symmetry Partners LLC Takes $241,000 Position in Truist Financial Co. (NYSE:TFC)

Symmetry Partners LLC purchased a new stake in Truist Financial Co. (NYSE:TFC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,193 shares of the insurance provider’s stock, valued at approximately $241,000.

Several other hedge funds have also added to or reduced their stakes in the business. Valmark Advisers Inc. boosted its position in Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after buying an additional 277 shares during the period. St. Johns Investment Management Company LLC lifted its position in shares of Truist Financial by 0.9% in the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after purchasing an additional 296 shares during the period. Mechanics Financial Corp lifted its position in shares of Truist Financial by 7.4% in the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 300 shares during the period. Day & Ennis LLC lifted its position in shares of Truist Financial by 4.3% in the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 311 shares during the period. Finally, Carson Advisory Inc. lifted its position in shares of Truist Financial by 1.5% in the 4th quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after purchasing an additional 315 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.77 during midday trading on Tuesday, reaching $36.57. The company had a trading volume of 9,012,578 shares, compared to its average volume of 8,701,320. The company’s 50 day moving average price is $37.82 and its 200 day moving average price is $36.95. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a market cap of $48.93 billion, a P/E ratio of -27.59, a P/E/G ratio of 1.75 and a beta of 1.06. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $40.51.

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, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for 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%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.69%. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research analyst reports. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a research note on Monday, April 22nd. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Piper Sandler lifted their price objective on shares of Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

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.