Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Truist Financial Corporation $TFC

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 12,366 shares of the insurance provider’s stock, valued at approximately $609,000.

A number of other institutional investors have also recently made changes to their positions in TFC. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the 3rd quarter valued at $28,000. Maseco LLP lifted its position in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares during the last quarter. Ancora Advisors LLC lifted its position in shares of Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. Finally, Bare Financial Services Inc lifted its position in shares of Truist Financial by 56.9% during the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after buying an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TFC. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada increased their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Evercore reissued an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Stock Performance

Shares of TFC opened at $48.45 on Friday. The stock’s 50-day simple moving average is $47.87 and its 200 day simple moving average is $48.72. The stock has a market capitalization of $60.37 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.83 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52-week low of $38.27 and a 52-week high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating 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 firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter last year, the firm posted $0.87 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is presently 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.