Truist Financial Co. (NYSE:TFC) Shares Acquired by Boston Common Asset Management LLC

Boston Common Asset Management LLC grew its position in Truist Financial Co. (NYSE:TFC - Free Report) by 20.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,214 shares of the insurance provider's stock after purchasing an additional 37,401 shares during the quarter. Boston Common Asset Management LLC's holdings in Truist Financial were worth $9,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TFC. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $26,000. Navigoe LLC bought a new position in shares of Truist Financial in the fourth quarter worth approximately $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the fourth quarter worth approximately $45,000. Brown Lisle Cummings Inc. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $55,000. Finally, TCTC Holdings LLC increased its holdings in Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock valued at $57,000 after acquiring an additional 287 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. Raymond James cut shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. TD Cowen began coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price on the stock. Piper Sandler decreased their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Stephens decreased their price objective on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Stock Performance

NYSE:TFC traded down $0.36 during trading hours on Monday, hitting $39.15. 3,478,557 shares of the company were exchanged, compared to its average volume of 9,103,158. The stock has a market capitalization of $51.26 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.63 and a beta of 0.83. 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 current ratio of 0.83 and a quick ratio of 0.83. The company's 50 day moving average price is $38.58 and its 200-day moving average price is $42.86.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial's dividend payout ratio is presently 61.36%.

Truist Financial 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.