M&T Bank Corp Has $9.01 Million Position in Truist Financial Corporation $TFC

Key Points

• M&T Bank Corp boosted its stake in Truist Financial by 14.3% to 183,038 shares, a position worth approximately $9.01 million.
• Truist declared a quarterly dividend of $0.52 per share (annualized $2.08), representing a 4.2% yield, payable June 1 with an ex-dividend date of May 8.
• Analysts hold a Moderate Buy consensus with an average price target of $55.59 (nine Buys, five Holds, one Sell), and Truist recently topped Q1 EPS estimates with $1.09 versus $1.00 expected.

M&T Bank Corp boosted its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,038 shares of the insurance provider's stock after buying an additional 22,926 shares during the period. M&T Bank Corp's holdings in Truist Financial were worth $9,007,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC boosted its stake in Truist Financial by 4.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 7,077 shares of the insurance provider's stock worth $348,000 after buying an additional 328 shares in the last quarter. RMR Wealth Builders boosted its stake in Truist Financial by 4.2% during the fourth quarter. RMR Wealth Builders now owns 20,300 shares of the insurance provider's stock worth $999,000 after buying an additional 824 shares in the last quarter. Aprio Wealth Management LLC boosted its stake in Truist Financial by 49.8% in the 4th quarter. Aprio Wealth Management LLC now owns 12,830 shares of the insurance provider's stock valued at $631,000 after buying an additional 4,266 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Truist Financial by 21.9% in the 4th quarter. D.A. Davidson & CO. now owns 43,355 shares of the insurance provider's stock valued at $2,134,000 after buying an additional 7,791 shares in the last quarter. Finally, Concord Asset Management LLC VA boosted its stake in Truist Financial by 528.6% in the 4th quarter. Concord Asset Management LLC VA now owns 65,686 shares of the insurance provider's stock valued at $3,232,000 after buying an additional 55,237 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TFC. Robert W. Baird lowered Truist Financial from an "outperform" rating to a "neutral" rating and set a $55.00 price target on the stock. in a research note on Friday, May 1st. Raymond James Financial boosted their target price on shares of Truist Financial from $50.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Morgan Stanley reduced their target price on shares of Truist Financial from $63.00 to $62.00 and set an "overweight" rating on the stock in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Truist Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. Finally, Argus boosted their target price on shares of Truist Financial from $54.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, January 23rd. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and a consensus price target of $55.59.

Truist Financial Price Performance

Truist Financial stock opened at $49.96 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $62.00 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.85 and a beta of 0.92. The business's fifty day moving average is $48.05 and its two-hundred day moving average is $48.36. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial's dividend payout ratio is 51.61%.

Truist Financial Company Profile

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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