Coerente Capital Management raised its position in Truist Financial Co. (NYSE:TFC - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,734 shares of the insurance provider's stock after buying an additional 8,065 shares during the quarter. Truist Financial comprises about 2.5% of Coerente Capital Management's portfolio, making the stock its 19th largest position. Coerente Capital Management's holdings in Truist Financial were worth $12,704,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors raised its holdings in shares of Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Norges Bank bought a new position in Truist Financial in the 4th quarter valued at approximately $402,828,000. FMR LLC boosted its position in Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after buying an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Truist Financial in the 4th quarter worth about $198,051,000. Finally, Northern Trust Corp grew its holdings in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after acquiring an additional 2,452,239 shares during the last quarter. Institutional investors own 71.28% of the company's stock.
Truist Financial Stock Performance
TFC stock traded down $1.06 during midday trading on Friday, hitting $38.88. 3,547,232 shares of the stock traded hands, compared to its average volume of 8,264,170. The stock's fifty day simple moving average is $38.68 and its 200-day simple moving average is $42.48. The firm has a market cap of $50.92 billion, a P/E ratio of 11.68, a PEG ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a 1-year low of $33.56 and a 1-year 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.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the company posted $0.90 EPS. On average, analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.35%. Truist Financial's payout ratio is currently 61.36%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on TFC shares. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Argus set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 21st. Raymond James cut shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Piper Sandler dropped their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, TD Cowen began coverage on shares of Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target for the company. 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 company's stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of "Moderate Buy" and an average target price of $47.83.
Read Our Latest Research Report on Truist Financial
About Truist Financial
(
Free Report)
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.
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