National Bank of Canada FI Has $48.56 Million Holdings in Truist Financial Co. (NYSE:TFC)

National Bank of Canada FI lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 138.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,294,699 shares of the insurance provider’s stock after purchasing an additional 751,261 shares during the period. National Bank of Canada FI owned approximately 0.10% of Truist Financial worth $48,556,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Valmark Advisers Inc. raised its stake in shares of Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 277 shares during the period. Mechanics Financial Corp boosted its stake in Truist Financial by 7.4% in the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 300 shares in the last quarter. Day & Ennis LLC boosted its stake in Truist Financial by 4.3% in the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 311 shares in the last quarter. Carson Advisory Inc. lifted its stake in Truist Financial by 1.5% during the 4th quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock valued at $810,000 after acquiring an additional 315 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Truist Financial by 32.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 323 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of several recent research reports. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $34.00 to $42.00 in a report on Tuesday, April 23rd. Wells Fargo & Company lifted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. HSBC raised their target price on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Truist Financial Trading Up 0.7 %

NYSE TFC traded up $0.28 during trading hours on Monday, reaching $39.13. The company’s stock had a trading volume of 1,942,978 shares, compared to its average volume of 9,399,267. The firm has a fifty day simple moving average of $37.16 and a 200-day simple moving average of $35.22. The stock has a market cap of $52.22 billion, a P/E ratio of -29.43, a P/E/G ratio of 2.03 and a beta of 1.07. Truist Financial Co. has a 52 week low of $26.49 and a 52 week high of $39.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. Equities analysts forecast that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.32%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

Truist Financial 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.