Skandinaviska Enskilda Banken AB publ Sells 563 Shares of Truist Financial Co. (NYSE:TFC)

Skandinaviska Enskilda Banken AB publ trimmed its position in Truist Financial Co. (NYSE:TFCFree Report) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,874 shares of the insurance provider’s stock after selling 563 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Truist Financial were worth $7,292,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in Truist Financial by 1.8% in the second quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock valued at $1,815,666,000 after buying an additional 1,056,703 shares in the last quarter. Geode Capital Management LLC lifted its stake in Truist Financial by 2.2% in the second quarter. Geode Capital Management LLC now owns 24,458,354 shares of the insurance provider’s stock valued at $740,544,000 after buying an additional 526,889 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in 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 valued at $881,700,000 after buying an additional 20,321,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Truist Financial by 3.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 17,771,573 shares of the insurance provider’s stock valued at $523,570,000 after buying an additional 575,930 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares in the last quarter. 71.11% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.9 %

NYSE:TFC opened at $35.84 on Monday. Truist Financial Co. has a one year low of $25.56 and a one year high of $49.32. The firm’s fifty day moving average price is $36.44 and its two-hundred day moving average price is $32.14. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFCGet Free Report) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the company earned $1.30 earnings per share. On average, analysts anticipate that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.80%. Truist Financial’s dividend payout ratio is -192.59%.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research reports. Royal Bank of Canada lifted their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. UBS Group lifted their price objective on shares of Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Piper Sandler lifted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Finally, Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.87.

Check Out Our Latest Report on TFC

About Truist Financial

(Free Report)

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.

See Also

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

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