Truist Financial Corporation (NYSE:TFC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 922.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,664,320 shares of the insurance provider's stock after acquiring an additional 6,012,817 shares during the period. Victory Capital Management Inc. owned about 0.51% of Truist Financial worth $274,237,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Comerica Bank boosted its stake in shares of Truist Financial by 3.6% during the fourth 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 lifted its holdings in Truist Financial by 81.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock valued at $48,085,000 after buying an additional 498,531 shares in the last quarter. Code Waechter LLC purchased a new stake in Truist Financial in the 1st quarter valued at about $365,000. Cantor Fitzgerald Investment Advisors L.P. grew its stake in Truist Financial by 4.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock worth $17,927,000 after acquiring an additional 19,286 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of 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 acquiring an additional 60,848 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TFC. Keefe, Bruyette & Woods lowered Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target for the company. in a report on Wednesday, July 9th. Stephens lowered 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. Morgan Stanley dropped their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Stock Up 1.5%

Shares of TFC stock traded up $0.68 during trading hours on Thursday, reaching $45.04. 6,984,172 shares of the company's stock were exchanged, compared to its average volume of 8,352,267. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock's 50 day moving average is $41.45 and its 200-day moving average is $42.04. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The company has a market cap of $58.98 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.67 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same period in the previous year, the business earned $0.90 EPS. Analysts predict that Truist Financial Corporation will post 4 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 2nd. Shareholders of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.62%. Truist Financial's dividend payout ratio is currently 61.36%.

Truist Financial Company 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.