Keybank National Association OH Increases Stock Position in Truist Financial Corporation $TFC

Keybank National Association OH raised its stake in shares of Truist Financial Corporation (NYSE:TFC) by 16.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,237 shares of the insurance provider’s stock after purchasing an additional 14,539 shares during the period. Keybank National Association OH’s holdings in Truist Financial were worth $4,654,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Truist Financial by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock worth $5,892,453,000 after buying an additional 701,049 shares in the last quarter. Capital International Investors grew its holdings in Truist Financial by 0.7% during the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock valued at $5,332,835,000 after buying an additional 715,433 shares in the last quarter. Victory Capital Management Inc. increased its stake in Truist Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after acquiring an additional 2,226,288 shares during the last quarter. Morgan Stanley raised its holdings in shares of Truist Financial by 2.9% during the 4th quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after acquiring an additional 597,255 shares in the last quarter. Finally, Auto Owners Insurance Co raised its holdings in shares of Truist Financial by 4,821.0% during the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after acquiring an additional 13,884,480 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research report on Wednesday. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Finally, Stephens initiated coverage on shares of Truist Financial in a report on Monday, June 15th. They issued an “overweight” rating and a $59.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus price target of $55.26.

Truist Financial Stock Performance

NYSE TFC opened at $50.95 on Friday. The company has a market cap of $63.47 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day moving average price is $49.17 and its 200-day moving average price is $49.40. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Truist Financial Company 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.