Truist Financial Corporation $TFC Shares Purchased by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc more than doubled its Truist Financial stake in Q4, increasing holdings by 112.5% to 52,444 shares valued at about $2.58 million.
• Truist Financial recently posted better-than-expected earnings, reporting $1.09 EPS versus $1.00 expected, with revenue also edging above estimates and up 5% year over year.
• The company continues to offer an attractive income stream, declaring a quarterly dividend of $0.52 per share, or $2.08 annually, for a yield of about 4.4%.

MUFG Securities EMEA plc boosted its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 112.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,444 shares of the insurance provider's stock after acquiring an additional 27,763 shares during the period. MUFG Securities EMEA plc's holdings in Truist Financial were worth $2,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Maseco LLP increased its holdings in Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider's stock valued at $32,000 after buying an additional 228 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider's stock valued at $32,000 after buying an additional 431 shares during the last quarter. Ancora Advisors LLC boosted its stake in Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. Bare Financial Services Inc boosted its stake in Truist Financial by 56.9% in the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider's stock valued at $40,000 after acquiring an additional 298 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in Truist Financial by 2,178.4% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TFC shares. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Jefferies Financial Group reiterated a "mixed" rating and set a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Evercore reiterated an "outperform" rating on shares of Truist Financial in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of Truist Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 1st. Finally, Robert W. Baird downgraded shares of Truist Financial from an "outperform" rating to a "neutral" rating and set a $55.00 target price for the company. in a research note on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.59.

Truist Financial Stock Performance

NYSE:TFC opened at $46.90 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $58.43 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.82 and a beta of 0.89. The firm's fifty day simple moving average is $48.34 and its 200 day simple moving average is $48.90. Truist Financial Corporation has a twelve month low of $38.67 and a twelve month high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, equities research analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial's dividend payout ratio is currently 51.61%.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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