Truist Financial Co. (NYSE:TFC) Shares Acquired by Comerica Bank

Comerica Bank grew its position in Truist Financial Co. (NYSE:TFC - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 449,484 shares of the insurance provider's stock after purchasing an additional 15,499 shares during the period. Comerica Bank's holdings in Truist Financial were worth $19,499,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Voleon Capital Management LP acquired a new stake in Truist Financial in the 4th quarter valued at approximately $1,074,000. Lido Advisors LLC increased its holdings in shares of Truist Financial by 32.7% during the fourth quarter. Lido Advisors LLC now owns 57,831 shares of the insurance provider's stock valued at $2,509,000 after purchasing an additional 14,256 shares during the period. Northern Trust Corp raised its stake in shares of Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of Truist Financial by 134.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 35,089 shares of the insurance provider's stock valued at $1,522,000 after purchasing an additional 20,126 shares in the last quarter. Finally, Prosperity Consulting Group LLC lifted its holdings in Truist Financial by 150.0% in the fourth quarter. Prosperity Consulting Group LLC now owns 13,023 shares of the insurance provider's stock worth $565,000 after purchasing an additional 7,814 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Trading Up 0.7 %

NYSE:TFC opened at $38.62 on Friday. The stock's 50-day moving average is $39.59 and its two-hundred day moving average is $43.48. 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 has a market cap of $50.41 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the prior year, the business earned $0.90 EPS. As a group, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.39%. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler dropped their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Hsbc Global Res upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Stephens lowered their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. HSBC upgraded Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley dropped their price target on shares of 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.