Canada Post Corp Registered Pension Plan grew its position in Truist Financial Corporation (NYSE:TFC – Free Report) by 65.6% in the fourth quarter, HoldingsChannel reports. The fund owned 88,112 shares of the insurance provider’s stock after acquiring an additional 34,914 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Truist Financial were worth $4,336,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial in the third quarter worth about $28,000. Maseco LLP increased its stake in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares in the last quarter. Ancora Advisors LLC increased its stake in shares of Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of Truist Financial by 2,178.4% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 806 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently commented on TFC. JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Piper Sandler boosted their target price on shares of Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Friday, May 1st. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, TD Cowen boosted their target price on shares of Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.59.
Truist Financial Stock Down 0.1%
Shares of NYSE TFC opened at $46.93 on Monday. Truist Financial Corporation has a 12-month low of $38.27 and a 12-month high of $56.19. The stock has a market cap of $58.47 billion, a PE ratio of 11.65, a P/E/G ratio of 0.80 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $47.78 and a 200 day moving average of $48.63.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the prior year, the company earned $0.87 EPS. Truist Financial’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.
Truist Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s dividend payout ratio is currently 51.61%.
About Truist Financial
Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.
Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.
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