Raiffeisen Bank International AG Purchases New Position in Truist Financial Co. (NYSE:TFC)

Raiffeisen Bank International AG purchased a new stake in Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,693 shares of the insurance provider’s stock, valued at approximately $594,000.

Other hedge funds have also recently bought and sold shares of the company. PBMares Wealth Management LLC boosted its stake in shares of Truist Financial by 0.8% in 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. boosted its position in Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after buying an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after buying an additional 227 shares during the last quarter. FWG Holdings LLC increased its holdings in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after buying an additional 234 shares in the last quarter. Finally, Avestar Capital LLC raised its stake in shares of Truist Financial by 4.1% in the fourth quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider’s stock valued at $273,000 after acquiring an additional 250 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

TFC stock opened at $41.41 on Friday. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $54.23 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The business’s fifty day moving average is $38.82 and its 200-day moving average is $43.23.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion for 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. Equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial’s payout ratio is 61.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TFC shares. Piper Sandler decreased their price target on Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Stephens lowered their target price on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Citigroup dropped their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently 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.