Truist Financial Corporation (NYSE:TFC) Shares Bought by Truist Financial Corp

Truist Financial Corp boosted its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,583,686 shares of the insurance provider's stock after purchasing an additional 24,277 shares during the period. Truist Financial Corp owned approximately 0.35% of Truist Financial worth $188,619,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Capital International Investors grew its position in 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 last quarter. Geode Capital Management LLC grew its position in Truist Financial by 1.9% during the 4th 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 grew its position in Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock worth $1,040,718,000 after purchasing an additional 1,450,323 shares during the last quarter. Northern Trust Corp grew its position in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $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 grew its position in Truist Financial by 13.9% during 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 purchasing 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 Price Performance

Shares of Truist Financial stock traded up $0.20 on Friday, hitting $45.23. The company's stock had a trading volume of 5,612,374 shares, compared to its average volume of 8,275,976. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a fifty day moving average price of $40.44 and a 200-day moving average price of $41.94. The company has a market capitalization of $59.23 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio is presently 61.36%.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Barclays decreased their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. TD Cowen started coverage on shares of Truist Financial in a research note on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned 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 a consensus rating of "Moderate Buy" and an average target price of $48.44.

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.