Epoch Investment Partners Inc. Has $60.85 Million Stock Holdings in Truist Financial Corporation $TFC

Epoch Investment Partners Inc. increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 7.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,236,435 shares of the insurance provider’s stock after buying an additional 90,646 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Truist Financial were worth $60,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TFC. Brighton Jones LLC increased its position in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Woodline Partners LP increased its position in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Truist Financial during the 2nd quarter worth approximately $575,000. AXA S.A. increased its position in Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. 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. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Friday, May 1st. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. reduced their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Morgan Stanley cut their target price 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 investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Trading Down 0.1%

TFC opened at $51.63 on Monday. Truist Financial Corporation has a twelve month low of $38.83 and a twelve month high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $49.10 and a 200-day moving average of $49.18. The stock has a market cap of $64.33 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the prior year, the company posted $0.87 earnings per share. Truist Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a $0.52 dividend. 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 presently 51.61%.

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.