Truist Financial Co. (NYSE:TFC) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,482 shares of the insurance provider’s stock after purchasing an additional 861 shares during the quarter. Public Sector Pension Investment Board’s holdings in Truist Financial were worth $10,519,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in Truist Financial in the first quarter valued at approximately $25,000. Elequin Securities LLC acquired a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. Winch Advisory Services LLC acquired a new stake in Truist Financial in the first quarter valued at approximately $26,000. Grey Fox Wealth Advisors LLC purchased a new position in Truist Financial in the fourth quarter valued at approximately $28,000. Finally, J.Safra Asset Management Corp purchased a new position in Truist Financial in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 71.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Barclays lowered their target price on shares of Truist Financial from $44.00 to $40.00 in a research report on Tuesday, June 27th. Citigroup lowered their target price on shares of Truist Financial from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. Piper Sandler raised their target price on shares of Truist Financial from $35.00 to $36.00 in a research report on Friday, July 21st. Finally, Royal Bank of Canada lowered their target price on shares of Truist Financial from $46.00 to $43.00 in a research report on Tuesday, June 13th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.82.

Truist Financial Price Performance

Shares of TFC stock traded up $0.35 during mid-day trading on Friday, reaching $30.90. The stock had a trading volume of 7,951,516 shares, compared to its average volume of 12,173,642. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $53.34. The company has a market cap of $41.16 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. The business has a 50-day simple moving average of $31.41 and a 200 day simple moving average of $33.39. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.78.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.97 billion. Truist Financial had a net margin of 20.17% and a return on equity of 11.73%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.79 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend was Thursday, August 10th. Truist Financial’s dividend payout ratio is presently 48.15%.

Truist Financial Company Profile

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.