Truist Financial Corporation $TFC Stock Position Lifted by Candriam S.C.A.

Candriam S.C.A. lifted its stake in Truist Financial Corporation (NYSE:TFC) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,726 shares of the insurance provider’s stock after acquiring an additional 10,016 shares during the quarter. Candriam S.C.A.’s holdings in Truist Financial were worth $6,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in Truist Financial during the fourth quarter worth $25,000. Swiss RE Ltd. bought a new stake in Truist Financial during the 4th quarter worth about $26,000. McMillan Office Inc. acquired a new position in Truist Financial during the 4th quarter worth $31,000. Maseco LLP lifted its stake in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Truist Financial by 190.7% in the 4th 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 last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.6%

Truist Financial stock opened at $51.99 on Tuesday. The firm has a market cap of $64.78 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.91 and a beta of 0.89. 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 $40.78 and a 52-week high of $56.19. The firm has a 50 day moving average price of $49.19 and a two-hundred day moving average price of $49.44.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The business’s revenue was up 5.0% on a year-over-year basis. Equities analysts predict that Truist Financial Corporation will post 4.51 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Bank of America restated a “neutral” rating and set a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Friday, May 1st. Finally, Royal Bank Of Canada raised their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.47.

About Truist Financial

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.