Truist Financial Co. (NYSE:TFC) Shares Acquired by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC lifted its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,018 shares of the insurance provider's stock after acquiring an additional 6,815 shares during the period. Sonora Investment Management Group LLC's holdings in Truist Financial were worth $14,074,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capital International Investors boosted its position in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after acquiring an additional 18,712,246 shares during the period. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 534,740 shares during the last quarter. Amundi raised 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 purchasing an additional 1,450,323 shares in the last quarter. Northern Trust Corp lifted its position in 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 purchasing an additional 2,452,239 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Truist Financial by 13.9% in the 4th 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 worth $465,827,000 after buying an additional 1,307,252 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

TFC stock traded down $0.45 during trading on Wednesday, reaching $40.29. The company had a trading volume of 7,279,820 shares, compared to its average volume of 8,294,364. The company has a market cap of $52.75 billion, a price-to-earnings ratio of 12.10, 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. The firm has a 50-day simple moving average of $38.48 and a 200-day simple moving average of $42.55. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released 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. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business earned $0.90 earnings per share. As a group, sell-side analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.16%. Truist Financial's dividend payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TFC. Keefe, Bruyette & Woods lowered their price objective on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Stephens decreased their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.83.

About Truist Financial

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.