CHICAGO TRUST Co NA Makes New Investment in Truist Financial Co. (NYSE:TFC)

CHICAGO TRUST Co NA purchased a new position in Truist Financial Co. (NYSE:TFCGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,009 shares of the insurance provider’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its holdings in Truist Financial by 2.7% in the fourth quarter. State Street Corp now owns 63,687,255 shares of the insurance provider’s stock worth $3,728,889,000 after acquiring an additional 1,687,751 shares in the last quarter. Bank of America Corp DE boosted its holdings in Truist Financial by 0.5% in the fourth quarter. Bank of America Corp DE now owns 47,279,159 shares of the insurance provider’s stock worth $2,768,196,000 after acquiring an additional 226,170 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Truist Financial by 1.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 25,188,265 shares of the insurance provider’s stock worth $1,474,773,000 after acquiring an additional 473,472 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Truist Financial by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 21,038,980 shares of the insurance provider’s stock worth $1,228,617,000 after acquiring an additional 544,801 shares in the last quarter. Finally, Dodge & Cox boosted its holdings in Truist Financial by 8.6% in the fourth quarter. Dodge & Cox now owns 16,347,518 shares of the insurance provider’s stock worth $957,147,000 after acquiring an additional 1,293,701 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Shares of TFC stock opened at $47.23 on Thursday. The stock has a 50 day moving average of $48.61 and a 200 day moving average of $56.28. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.58. The stock has a market cap of $62.88 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.70 and a beta of 1.17. Truist Financial Co. has a twelve month low of $44.75 and a twelve month high of $68.95.

Truist Financial (NYSE:TFCGet Rating) last posted its quarterly earnings data on Tuesday, April 19th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Truist Financial had a return on equity of 12.70% and a net margin of 27.89%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 earnings per share. On average, research analysts predict that Truist Financial Co. will post 4.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Thursday, May 12th. Truist Financial’s dividend payout ratio (DPR) is presently 42.86%.

Several research analysts have recently issued reports on TFC shares. The Goldman Sachs Group reduced their price objective on Truist Financial from $68.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Bank of America cut Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price objective for the company. in a research note on Friday, April 8th. Wolfe Research reduced their price objective on Truist Financial from $57.00 to $41.00 and set an “underperform” rating for the company in a research note on Thursday, May 26th. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $58.00 in a research note on Monday, April 11th. Finally, Morgan Stanley reduced their price objective on Truist Financial from $72.00 to $63.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.46.

In other Truist Financial news, Director Steven C. Voorhees acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was acquired at an average cost of $49.82 per share, for a total transaction of $996,400.00. Following the completion of the transaction, the director now directly owns 60,873 shares of the company’s stock, valued at $3,032,692.86. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Truist Financial Company Profile (Get Rating)

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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