Commerzbank Aktiengesellschaft FI Purchases 19,820 Shares of Truist Financial Corporation (NYSE:TFC)

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 73.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,626 shares of the insurance provider's stock after acquiring an additional 19,820 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Truist Financial were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Comerica Bank lifted its stake in shares of Truist Financial by 3.6% in the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after purchasing an additional 15,499 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Truist Financial by 81.7% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after buying an additional 498,531 shares in the last quarter. Code Waechter LLC purchased a new stake in shares of Truist Financial during the first quarter worth $365,000. Cantor Fitzgerald Investment Advisors L.P. raised its stake in Truist Financial by 4.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock worth $17,927,000 after purchasing an additional 19,286 shares during the period. Finally, Stifel Financial Corp raised its stake in Truist Financial by 2.8% during the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock worth $97,291,000 after purchasing an additional 60,848 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 1.6%

NYSE:TFC traded down $0.70 on Friday, reaching $44.31. The stock had a trading volume of 13,738,714 shares, compared to its average volume of 8,366,550. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.69 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The firm's fifty day moving average is $41.67 and its two-hundred day moving average is $42.06. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the business earned $0.91 EPS. The firm's revenue was down 406.0% compared to the same quarter last year. Equities analysts expect that Truist Financial Corporation 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. Shareholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's payout ratio is 61.36%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of 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. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Tuesday, July 8th. Stephens lowered their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" 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 issued a "hold" rating and a $44.00 price objective for the company. Finally, Barclays lowered 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. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has an average 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.