Rhumbline Advisers lifted its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,671,745 shares of the insurance provider’s stock after acquiring an additional 42,059 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of Truist Financial worth $76,439,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC lifted its stake in shares of Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after buying an additional 20,321,500 shares during the period. Norges Bank bought a new stake in shares of Truist Financial in the fourth quarter valued at about $553,718,000. Bank of Montreal Can bought a new stake in shares of Truist Financial in the second quarter valued at about $124,987,000. Morgan Stanley lifted its stake in shares of Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Truist Financial by 65.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock valued at $258,893,000 after buying an additional 2,992,820 shares during the period. 71.11% of the stock is owned by institutional investors and hedge funds.
Truist Financial Price Performance
TFC opened at $35.41 on Thursday. The company has a fifty day moving average price of $36.58 and a two-hundred day moving average price of $32.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $48.96. The firm has a market capitalization of $47.23 billion, a PE ratio of -32.79, a P/E/G ratio of 1.52 and a beta of 1.09.
Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business earned $1.30 EPS. As a group, analysts anticipate that Truist Financial Co. will post 3.39 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be given a $0.52 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.87%. Truist Financial’s dividend payout ratio is currently -192.59%.
Analyst Ratings Changes
Several research firms recently weighed in on TFC. Evercore ISI increased their target price on shares of Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Monday, November 20th. Royal Bank of Canada raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. TheStreet upgraded shares of Truist Financial from a “c+” rating to a “b-” rating in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 4th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $39.87.
Read Our Latest Stock Report on Truist Financial
About Truist Financial
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.
See Also
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