GAMMA Investing LLC Invests $272,000 in Truist Financial Co. (NYSE:TFC)

GAMMA Investing LLC acquired a new stake in Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,328 shares of the insurance provider’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in Truist Financial during the third quarter worth about $26,000. Operose Advisors LLC purchased a new stake in Truist Financial during the third quarter worth about $31,000. Tyler Stone Wealth Management purchased a new stake in Truist Financial during the third quarter worth about $33,000. Morton Brown Family Wealth LLC increased its stake in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC purchased a new stake in Truist Financial during the third quarter worth about $36,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Down 2.1 %

NYSE:TFC opened at $37.98 on Friday. The stock has a fifty day moving average price of $36.86 and a two-hundred day moving average price of $34.75. 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 1 year low of $25.56 and a 1 year high of $39.29.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, equities research analysts forecast that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TFC shares. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Royal Bank of Canada boosted their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. HSBC boosted their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

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.