Czech National Bank Purchases 14,417 Shares of Truist Financial Co. (NYSE:TFC)

Czech National Bank boosted its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 302,250 shares of the insurance provider's stock after acquiring an additional 14,417 shares during the quarter. Czech National Bank's holdings in Truist Financial were worth $12,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. PBMares Wealth Management LLC lifted its stake in shares of Truist Financial by 0.8% in the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock worth $1,270,000 after acquiring an additional 224 shares in the last quarter. FWG Holdings LLC raised its holdings in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after buying an additional 234 shares during the last quarter. Avestar Capital LLC raised its stake in Truist Financial by 4.1% during the 4th quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider's stock valued at $273,000 after acquiring an additional 250 shares in the last quarter. Pathway Financial Advisors LLC raised its stake in shares of Truist Financial by 2.2% during the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider's stock valued at $526,000 after purchasing an additional 260 shares in the last quarter. Finally, Nwam LLC raised its position in shares of Truist Financial by 3.2% during the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock worth $364,000 after buying an additional 263 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 1.0%

Shares of NYSE TFC traded up $0.40 during trading hours on Tuesday, hitting $39.63. The stock had a trading volume of 9,569,069 shares, compared to its average volume of 8,281,729. The firm's 50-day moving average price is $38.52 and its two-hundred day moving average price is $42.80. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market capitalization of $51.90 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.63 and a beta of 0.83. 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 (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.25%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

Several brokerages have commented on TFC. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Raymond James downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Piper Sandler reduced their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.83.

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.