Freemont Management S.A. Acquires 43,600 Shares of Truist Financial Corporation $TFC

Freemont Management S.A. boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 197.3% in the fourth quarter, Holdings Channel reports. The firm owned 65,700 shares of the insurance provider’s stock after purchasing an additional 43,600 shares during the quarter. Freemont Management S.A.’s holdings in Truist Financial were worth $3,233,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in Truist Financial during the third quarter valued at approximately $28,000. Maseco LLP raised its stake in Truist Financial by 53.8% in the fourth 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 period. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. Ancora Advisors LLC increased its stake in shares of Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares during the period. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of Truist Financial by 2,178.4% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 806 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the topic of a number of analyst reports. Evercore reissued an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Piper Sandler raised their target price on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Finally, Morgan Stanley cut their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Stock Performance

TFC stock opened at $46.53 on Thursday. The stock has a 50-day moving average price of $47.87 and a 200-day moving average price of $48.59. Truist Financial Corporation has a 1-year low of $38.27 and a 1-year high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market cap of $57.97 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.18 billion. During the same period in the previous year, the company posted $0.87 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect 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 will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s 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.