Truist Financial Corporation $TFC Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in Truist in Q4 by 701,049 shares to 119,740,969 shares, representing a 9.36% ownership position worth about $5.89 billion.
• Truist beat quarterly estimates with EPS of $1.09 (vs. $1.00) and $5.20B in revenue, and pays a quarterly dividend of $0.52 (annualized $2.08) for a 4.1% yield
• Analyst sentiment is mostly positive—10 Buys, 4 Holds and 1 Sell—yielding an average rating of "Moderate Buy" and an average target price of $55.41.

Vanguard Group Inc. increased its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,740,969 shares of the insurance provider's stock after purchasing an additional 701,049 shares during the quarter. Vanguard Group Inc. owned 9.36% of Truist Financial worth $5,892,453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independent Advisor Alliance boosted its position in shares of Truist Financial by 9.7% during the 3rd quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider's stock worth $15,046,000 after acquiring an additional 29,191 shares in the last quarter. Cullen Capital Management LLC boosted its position in shares of Truist Financial by 10.3% during the 3rd quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider's stock worth $209,936,000 after acquiring an additional 427,067 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Truist Financial by 18.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider's stock worth $7,728,000 after acquiring an additional 26,530 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Truist Financial by 2.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider's stock worth $19,285,000 after acquiring an additional 10,706 shares in the last quarter. Finally, Versor Investments LP boosted its position in shares of Truist Financial by 64.4% during the 3rd quarter. Versor Investments LP now owns 25,008 shares of the insurance provider's stock worth $1,143,000 after acquiring an additional 9,800 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.0%

Truist Financial stock opened at $50.75 on Monday. Truist Financial Corporation has a fifty-two week low of $37.47 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $62.98 billion, a P/E ratio of 12.59, a PEG ratio of 0.87 and a beta of 0.89. The stock has a 50-day simple moving average of $48.18 and a 200-day simple moving average of $48.09.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial's dividend payout ratio is currently 51.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TFC. The Goldman Sachs Group reaffirmed a "buy" rating and set a $58.00 price objective on shares of Truist Financial in a research report on Tuesday, January 6th. TD Cowen boosted their target price on Truist Financial from $59.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Piper Sandler boosted their target price on Truist Financial from $50.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday, January 22nd. Raymond James Financial boosted their target price on Truist Financial from $50.00 to $56.00 and gave the company an "outperform" rating in a report on Wednesday, January 7th. Finally, Argus boosted their target price on Truist Financial from $54.00 to $58.00 and gave the company a "buy" rating in a report on Friday, January 23rd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and an average target price of $55.41.

Insider Buying and Selling

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares of the company's stock, valued at $35,010.83. This represents a 83.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Truist Financial 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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