Truist Financial Co. (NYSE:TFC) Position Boosted by Point72 Europe London LLP

Point72 Europe London LLP grew its position in Truist Financial Co. (NYSE:TFC) by 154.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 582,869 shares of the insurance provider’s stock after acquiring an additional 353,579 shares during the quarter. Truist Financial makes up approximately 1.5% of Point72 Europe London LLP’s holdings, making the stock its 20th largest position. Point72 Europe London LLP’s holdings in Truist Financial were worth $25,285,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its stake in Truist Financial by 19.1% during the 4th quarter. Wedmont Private Capital now owns 12,348 shares of the insurance provider’s stock valued at $528,000 after purchasing an additional 1,978 shares during the period. Eastern Bank lifted its position in Truist Financial by 8.5% in the fourth quarter. Eastern Bank now owns 4,859 shares of the insurance provider’s stock worth $211,000 after purchasing an additional 381 shares during the period. FNY Investment Advisers LLC boosted its stake in Truist Financial by 62.5% during the 4th quarter. FNY Investment Advisers LLC now owns 1,300 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 500 shares in the last quarter. Signal Advisors Wealth LLC acquired a new position in shares of Truist Financial during the 4th quarter valued at $239,000. Finally, Mayfair Advisory Group LLC raised its stake in shares of Truist Financial by 12.8% in the 4th quarter. Mayfair Advisory Group LLC now owns 17,597 shares of the insurance provider’s stock worth $763,000 after buying an additional 2,000 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

NYSE:TFC opened at $41.21 on Thursday. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $53.97 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.63 and a beta of 0.83. The company has a 50-day moving average of $38.78 and a 200-day moving average of $43.26.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter last year, the company posted $0.90 EPS. As a group, equities research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.05%. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company dropped their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Barclays decreased their price target on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.06.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.