Truist Financial Co. (NYSE:TFC) Position Increased by NBC Securities Inc.

NBC Securities Inc. boosted its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 114,797.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,916 shares of the insurance provider's stock after acquiring an additional 37,883 shares during the period. NBC Securities Inc.'s holdings in Truist Financial were worth $1,560,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Capital International Investors raised its position 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 purchasing an additional 18,712,246 shares during the period. Geode Capital Management LLC increased its position in Truist Financial by 1.9% in 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 buying an additional 534,740 shares during the period. Amundi lifted its stake in Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock valued at $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after acquiring an additional 2,452,239 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock valued at $465,827,000 after acquiring an additional 1,307,252 shares during the period. Institutional investors own 71.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TFC. JPMorgan Chase & Co. dropped their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Piper Sandler decreased their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Price Performance

Shares of NYSE:TFC traded down $0.10 during trading hours on Wednesday, hitting $39.52. 6,465,597 shares of the company's stock traded hands, compared to its average volume of 8,278,141. The company's fifty day simple moving average is $38.48 and its two-hundred day simple moving average is $42.78. The company has a market cap of $51.75 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date was Friday, May 9th. Truist Financial's payout ratio is 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.