Versor Investments LP purchased a new stake in Truist Financial Co. (NYSE:TFC – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 60,700 shares of the insurance provider’s stock, valued at approximately $1,737,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Edmp Inc. lifted its holdings in Truist Financial by 17.4% in the 2nd quarter. Edmp Inc. now owns 77,342 shares of the insurance provider’s stock valued at $2,347,000 after acquiring an additional 11,458 shares during the last quarter. Keybank National Association OH lifted its stake in Truist Financial by 1.1% during the second quarter. Keybank National Association OH now owns 116,752 shares of the insurance provider’s stock valued at $3,543,000 after buying an additional 1,289 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in Truist Financial by 6.3% during the third quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock valued at $44,189,000 after buying an additional 91,579 shares in the last quarter. Van ECK Associates Corp lifted its stake in Truist Financial by 15.9% during the second quarter. Van ECK Associates Corp now owns 226,215 shares of the insurance provider’s stock valued at $6,866,000 after buying an additional 31,069 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Truist Financial by 36.5% during the second quarter. Cerity Partners LLC now owns 679,604 shares of the insurance provider’s stock valued at $20,626,000 after buying an additional 181,828 shares in the last quarter. 71.11% of the stock is owned by institutional investors and hedge funds.
Truist Financial Stock Up 0.9 %
Shares of Truist Financial stock opened at $37.84 on Friday. The stock has a market capitalization of $50.47 billion, a P/E ratio of -35.04, a PEG ratio of 1.59 and a beta of 1.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a 50 day moving average price of $35.49 and a two-hundred day moving average price of $31.94. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $50.57.
Truist Financial (NYSE:TFC – Get Free Report) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the prior year, the business earned $1.30 earnings per share. Equities analysts expect that Truist Financial Co. will post 3.41 earnings per share for the current year.
Truist Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.50%. Truist Financial’s dividend payout ratio is -192.59%.
Wall Street Analyst Weigh In
A number of analysts have commented on TFC shares. Piper Sandler upped their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. Raymond James upped their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, Evercore ISI upped their target price on Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Monday, November 20th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.60.
View Our Latest Analysis on Truist Financial
Truist Financial Profile
Truist Financial Corporation, a holding 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.
Further Reading
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC – Free Report).
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