Itau Unibanco Holding S.A. Buys Shares of 7,000 Truist Financial Co. (NYSE:TFC)

Itau Unibanco Holding S.A. purchased a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 7,000 shares of the insurance provider's stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TFC. PBMares Wealth Management LLC increased its stake in Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock valued at $1,270,000 after purchasing an additional 224 shares in the last quarter. Koshinski Asset Management Inc. increased its position in shares of Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock valued at $470,000 after acquiring an additional 225 shares during the period. Aaron Wealth Advisors LLC raised its stake in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider's stock worth $335,000 after acquiring an additional 227 shares during the last quarter. FWG Holdings LLC grew its stake in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after purchasing an additional 234 shares during the last quarter. Finally, Ignite Planners LLC increased its holdings in shares of Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider's stock valued at $772,000 after purchasing an additional 246 shares during the period. Institutional investors own 71.28% of the company's stock.

Truist Financial Trading Down 0.8 %

Truist Financial stock traded down $0.33 during trading on Tuesday, reaching $39.02. 7,127,855 shares of the company were exchanged, compared to its average volume of 8,159,181. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock's 50 day simple moving average is $39.36 and its two-hundred day simple moving average is $43.41. The company has a market capitalization of $51.10 billion, a P/E ratio of 11.72, a PEG ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. 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 prior year, the firm posted $0.90 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, May 9th. Truist Financial's payout ratio is presently 61.36%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TFC. Stephens cut their price target on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Morgan Stanley lowered their price objective 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. Piper Sandler cut their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Barclays dropped their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and a consensus price target of $47.83.

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.