ABN Amro Investment Solutions Raises Position in Truist Financial Corporation $TFC

Key Points

• ABN Amro Investment Solutions boosted its Truist Financial stake by 42.1% in the fourth quarter, adding 33,869 shares to bring its total holdings to 114,304 shares valued at about $5.6 million.
• Several other institutional investors also raised their positions, and hedge funds and other institutions own 71.28% of Truist Financial’s stock.
• Truist recently topped quarterly earnings expectations with EPS of $1.09 versus $1.00 expected, and it also announced a quarterly dividend of $0.52 per share, implying a 4.3% annualized yield.

ABN Amro Investment Solutions increased its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 42.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,304 shares of the insurance provider's stock after purchasing an additional 33,869 shares during the quarter. ABN Amro Investment Solutions' holdings in Truist Financial were worth $5,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TFC. IFP Advisors Inc increased its position in shares of Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider's stock valued at $404,000 after acquiring an additional 194 shares during the period. AlphaCore Capital LLC increased its position in shares of Truist Financial by 8.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider's stock valued at $128,000 after acquiring an additional 199 shares during the period. Alliance Wealth Advisors LLC increased its position in shares of Truist Financial by 1.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider's stock valued at $556,000 after acquiring an additional 205 shares during the period. Private Trust Co. NA increased its position in shares of Truist Financial by 1.2% in the fourth quarter. Private Trust Co. NA now owns 18,778 shares of the insurance provider's stock valued at $924,000 after acquiring an additional 215 shares during the period. Finally, Aspiriant LLC increased its position in shares of Truist Financial by 2.3% in the fourth quarter. Aspiriant LLC now owns 9,721 shares of the insurance provider's stock valued at $478,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TFC shares. JPMorgan Chase & Co. decreased their price objective on shares of Truist Financial from $57.00 to $51.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group reiterated a "mixed" rating and set a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Robert W. Baird cut 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 report on Friday, May 1st. Argus boosted their price target on shares of Truist Financial from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Finally, TD Cowen boosted their price target on shares of Truist Financial from $59.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.59.

Truist Financial Price Performance

Shares of TFC opened at $47.92 on Friday. The stock has a market cap of $59.70 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. 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 fifty-two week low of $38.27 and a fifty-two week high of $56.19. The firm's 50-day simple moving average is $47.81 and its two-hundred day simple moving average is $48.72.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. Analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial's dividend payout ratio is 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.

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