Truist Financial Co. (NYSE:TFC) Shares Purchased by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in Truist Financial Co. (NYSE:TFC) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 266,702 shares of the insurance provider’s stock after purchasing an additional 3,979 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Truist Financial were worth $10,975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. Geode Capital Management LLC lifted its position in shares of Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after acquiring an additional 534,740 shares during the last quarter. Amundi lifted its position in shares of Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares during the last quarter. Northern Trust Corp lifted its position in shares of Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after acquiring an additional 2,452,239 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Truist Financial by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after acquiring an additional 1,307,252 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 1.0%

NYSE TFC opened at $39.37 on Tuesday. Truist Financial Co. has a 1-year low of $33.56 and a 1-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 company has a market capitalization of $51.56 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The firm’s fifty day simple moving average is $38.86 and its 200-day simple moving average is $42.28.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Co. 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. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

TFC has been the subject of a number of recent research reports. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Barclays cut their price objective on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods cut their price objective on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial 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.