Federated Hermes Inc. Acquires 95,284 Shares of Truist Financial Co. (NYSE:TFC)

Federated Hermes Inc. raised its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,422,266 shares of the insurance provider's stock after buying an additional 95,284 shares during the quarter. Truist Financial accounts for about 0.9% of Federated Hermes Inc.'s investment portfolio, making the stock its 14th largest position. Federated Hermes Inc. owned about 0.71% of Truist Financial worth $408,738,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TFC. Geode Capital Management LLC increased its position in Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock worth $1,210,348,000 after acquiring an additional 534,740 shares during the period. Amundi grew its position in Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock worth $1,040,718,000 after purchasing an additional 1,450,323 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Truist Financial by 7.9% during the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider's stock worth $428,720,000 after purchasing an additional 722,749 shares during the period. Norges Bank acquired a new position in shares of Truist Financial during the fourth quarter valued at about $402,828,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Truist Financial by 8.5% in the fourth quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider's stock valued at $368,079,000 after buying an additional 662,179 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE TFC traded down $0.52 during trading on Friday, reaching $35.12. The company had a trading volume of 7,414,110 shares, compared to its average volume of 8,102,477. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The business's 50 day moving average price is $42.60 and its 200-day moving average price is $44.05. The stock has a market cap of $45.85 billion, a PE ratio of 10.51, a PEG ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.92%. Truist Financial's payout ratio is 62.46%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com lowered Truist Financial from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. JPMorgan Chase & Co. cut their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley decreased their price target on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday. Raymond James cut shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.22.

Truist Financial Company 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.