BW Gestao de Investimentos Ltda. Takes Position in Truist Financial Corporation $TFC

BW Gestao de Investimentos Ltda. purchased a new position in Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 61,110 shares of the insurance provider’s stock, valued at approximately $3,007,000.

A number of other hedge funds have also modified their holdings of the stock. Cullen Capital Management LLC grew its position in shares of 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 purchasing an additional 427,067 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of 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 purchasing an additional 26,530 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of 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 purchasing an additional 10,706 shares during the last quarter. Versor Investments LP grew its position in shares of 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 purchasing an additional 9,800 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its position in shares of Truist Financial by 26.9% in the third quarter. Raleigh Capital Management Inc. now owns 44,965 shares of the insurance provider’s stock valued at $2,056,000 after purchasing an additional 9,535 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 2.6%

TFC stock opened at $48.10 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The business’s 50-day simple moving average is $48.34 and its 200 day simple moving average is $48.90. The company has a market cap of $59.92 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.80 and a beta of 0.89. Truist Financial Corporation has a twelve month low of $38.83 and a twelve month high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion for 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%.The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. On average, research analysts anticipate that Truist Financial Corporation will post 4.52 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 1st. Investors of record on Friday, May 8th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several research analyst reports. Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Finally, Royal Bank Of Canada lifted their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.59.

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.