230,044 Shares in Truist Financial Co. (NYSE:TFC) Acquired by Nearwater Capital Markets Ltd

Nearwater Capital Markets Ltd bought a new stake in Truist Financial Co. (NYSE:TFC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 230,044 shares of the insurance provider's stock, valued at approximately $9,979,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NorthRock Partners LLC raised its position in Truist Financial by 168.2% in the 4th quarter. NorthRock Partners LLC now owns 14,356 shares of the insurance provider's stock worth $623,000 after purchasing an additional 9,004 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in Truist Financial by 20.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 55,644 shares of the insurance provider's stock worth $2,414,000 after buying an additional 9,352 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Truist Financial by 101.1% during the fourth quarter. Lazard Asset Management LLC now owns 14,316 shares of the insurance provider's stock worth $620,000 after acquiring an additional 7,197 shares during the period. Logan Capital Management Inc. lifted its position in Truist Financial by 0.7% in the 4th quarter. Logan Capital Management Inc. now owns 190,384 shares of the insurance provider's stock valued at $8,259,000 after acquiring an additional 1,349 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in Truist Financial by 77.1% during the 4th quarter. Investment Management Corp of Ontario now owns 78,670 shares of the insurance provider's stock worth $3,413,000 after purchasing an additional 34,238 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Down 0.0%

Shares of TFC stock traded down $0.02 during trading hours on Monday, reaching $41.39. The company's stock had a trading volume of 1,834,305 shares, compared to its average volume of 8,165,791. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm's fifty day simple moving average is $38.82 and its 200 day simple moving average is $43.23. The stock has a market capitalization of $54.20 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The business 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 9.32% and a net margin of 15.59%. During the same period in the previous year, the company posted $0.90 earnings per share. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Friday, May 9th. Truist Financial's payout ratio is presently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent research reports. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Wells Fargo & Company cut their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Argus set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 21st. Barclays reduced their price target on 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $47.83.

About Truist Financial

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.