Truist Financial Corporation $TFC Shares Purchased by Swedbank AB

Swedbank AB boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 18.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 839,372 shares of the insurance provider’s stock after buying an additional 128,748 shares during the quarter. Swedbank AB’s holdings in Truist Financial were worth $41,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance lifted its stake in Truist Financial by 9.7% in the third quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider’s stock valued at $15,046,000 after buying an additional 29,191 shares during the last quarter. Cullen Capital Management LLC lifted its stake in Truist Financial by 10.3% in the third quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider’s stock valued at $209,936,000 after buying an additional 427,067 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Truist Financial by 18.6% in the third quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock valued at $7,728,000 after buying an additional 26,530 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Truist Financial by 2.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider’s stock valued at $19,285,000 after buying an additional 10,706 shares during the last quarter. Finally, Versor Investments LP lifted its stake in Truist Financial by 64.4% in the third quarter. Versor Investments LP now owns 25,008 shares of the insurance provider’s stock valued at $1,143,000 after buying an additional 9,800 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TFC. Royal Bank Of Canada boosted their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Argus boosted their price objective on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Finally, TD Cowen upped their price target on Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Price Performance

Truist Financial stock opened at $49.74 on Friday. Truist Financial Corporation has a 12 month low of $38.27 and a 12 month high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $48.06 and a 200-day simple moving average of $48.48. The stock has a market capitalization of $61.97 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.87 and a beta of 0.92.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a $0.52 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s dividend payout ratio is presently 51.61%.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.