Jacobi Capital Management LLC Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Jacobi Capital Management LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 12.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,838 shares of the insurance provider’s stock after buying an additional 3,505 shares during the quarter. Jacobi Capital Management LLC’s holdings in Truist Financial were worth $1,241,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Valmark Advisers Inc. raised its position in Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares during the period. Texas Yale Capital Corp. raised its position in Truist Financial by 2.4% in the first quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after purchasing an additional 280 shares during the period. Whalen Wealth Management Inc. raised its position in Truist Financial by 4.8% in the first quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after purchasing an additional 288 shares during the period. Newbridge Financial Services Group Inc. raised its position in Truist Financial by 19.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock valued at $70,000 after purchasing an additional 290 shares during the period. Finally, St. Johns Investment Management Company LLC raised its position in Truist Financial by 0.9% in the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock valued at $1,191,000 after purchasing an additional 296 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC traded up $1.37 during mid-day trading on Monday, hitting $43.78. 12,834,000 shares of the company’s stock were exchanged, compared to its average volume of 8,550,264. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $44.14. The firm has a market capitalization of $58.58 billion, a P/E ratio of -33.13, a P/E/G ratio of 2.12 and a beta of 1.07. The business’s 50 day moving average is $38.38 and its two-hundred day moving average is $37.52. 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 (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. On average, equities analysts expect that Truist Financial Co. will post 3.44 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders 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 4.75%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. UBS Group upped their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Wells Fargo & Company boosted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Stephens boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus 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.