BRYN MAWR TRUST Co raised its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 268,589 shares of the insurance provider’s stock after purchasing an additional 5,407 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Truist Financial were worth $9,159,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after buying an additional 20,321,500 shares during the last quarter. Norges Bank purchased a new position in shares of Truist Financial in the fourth quarter worth approximately $553,718,000. BlackRock Inc. boosted its holdings in shares of Truist Financial by 8.3% in the first quarter. BlackRock Inc. now owns 100,042,278 shares of the insurance provider’s stock worth $3,411,442,000 after buying an additional 7,651,641 shares during the last quarter. FMR LLC boosted its holdings in shares of Truist Financial by 55.2% in the first quarter. FMR LLC now owns 21,461,191 shares of the insurance provider’s stock worth $731,827,000 after buying an additional 7,635,573 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Truist Financial by 43.1% in the fourth quarter. Amundi now owns 18,282,723 shares of the insurance provider’s stock worth $847,671,000 after buying an additional 5,504,325 shares during the last quarter. Hedge funds and other institutional investors own 71.11% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on TFC. Jefferies Financial Group downgraded shares of Truist Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $37.00 to $32.00 in a report on Tuesday, July 11th. HSBC initiated coverage on shares of Truist Financial in a research report on Thursday. They set a “hold” rating and a $29.00 price objective on the stock. Royal Bank of Canada reduced their price objective on shares of Truist Financial from $46.00 to $43.00 in a research report on Tuesday, June 13th. Citigroup reduced their price objective 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. Finally, Piper Sandler lifted their price objective on shares of Truist Financial from $35.00 to $36.00 in a research report on Friday, July 21st. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.20.
Truist Financial Trading Up 1.7 %
NYSE TFC traded up $0.50 on Monday, hitting $30.28. 2,100,635 shares of the stock were exchanged, compared to its average volume of 12,050,553. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a fifty day moving average price of $31.37 and a two-hundred day moving average price of $32.55. The firm has a market capitalization of $40.33 billion, a P/E ratio of 6.89, a P/E/G ratio of 1.73 and a beta of 1.05. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $53.34.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.92 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.08). The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Truist Financial had a return on equity of 11.73% and a net margin of 20.17%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. Research analysts forecast that Truist Financial Co. will post 3.79 EPS for the current fiscal year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend was Thursday, August 10th. Truist Financial’s payout ratio is 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.
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