Raiffeisen Bank International AG Buys New Shares in Truist Financial Co. (NYSE:TFC)

Raiffeisen Bank International AG bought a new stake in Truist Financial Co. (NYSE:TFC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,693 shares of the insurance provider's stock, valued at approximately $594,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TFC. Park Avenue Securities LLC increased its position in shares of Truist Financial by 39.3% during the 4th quarter. Park Avenue Securities LLC now owns 45,361 shares of the insurance provider's stock valued at $1,968,000 after purchasing an additional 12,798 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock worth $129,000 after buying an additional 971 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Truist Financial by 150.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 32,175 shares of the insurance provider's stock worth $1,396,000 after buying an additional 19,315 shares during the last quarter. Carnegie Investment Counsel boosted its stake in Truist Financial by 1.1% in the fourth quarter. Carnegie Investment Counsel now owns 52,203 shares of the insurance provider's stock valued at $2,265,000 after acquiring an additional 557 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Truist Financial in the fourth quarter valued at about $244,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFC has been the topic of a number of research reports. Barclays lowered their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Argus set a $43.00 target price on Truist Financial in a research note on Monday, April 21st. TD Cowen initiated coverage on Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target on the stock. Keefe, Bruyette & Woods cut their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Citigroup lowered their price objective on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Nine investment 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. According to MarketBeat, Truist Financial presently has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Price Performance

Shares of TFC stock traded down $0.45 on Friday, reaching $39.04. The company's stock had a trading volume of 1,872,068 shares, compared to its average volume of 8,222,780. The company has a market capitalization of $51.13 billion, a P/E ratio of 11.73, a PEG ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 12-month low of $33.56 and a 12-month high of $49.06. The stock's 50 day simple moving average is $38.82 and its 200-day simple moving average is $43.16. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC - Get Free Report) last announced 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 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 period in the prior year, the company earned $0.90 EPS. As a group, equities analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.33%. Truist Financial's payout ratio is presently 61.36%.

Truist Financial Company 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.