Daiwa Securities Group Inc. Acquires 12,059 Shares of Truist Financial Co. (NYSE:TFC)

Daiwa Securities Group Inc. grew its holdings in shares of Truist Financial Co. (NYSE:TFCFree Report) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,897 shares of the insurance provider’s stock after acquiring an additional 12,059 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Truist Financial were worth $5,141,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Valmark Advisers Inc. increased its position in Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after buying an additional 277 shares in the last quarter. Whalen Wealth Management Inc. increased its position in Truist Financial by 4.8% in the first quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock worth $247,000 after buying an additional 288 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in Truist Financial by 19.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock worth $70,000 after buying an additional 290 shares in the last quarter. St. Johns Investment Management Company LLC increased its position in Truist Financial by 0.9% in the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after buying an additional 296 shares in the last quarter. Finally, Mechanics Financial Corp increased its position in Truist Financial by 7.4% in the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after buying an additional 300 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.3 %

Shares of NYSE TFC traded down $0.13 during midday trading on Tuesday, hitting $38.12. The company’s stock had a trading volume of 714,490 shares, compared to its average volume of 8,516,896. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $37.95 and its two-hundred day moving average is $37.26. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $40.51. The firm has a market cap of $51.01 billion, a P/E ratio of -28.98, a price-to-earnings-growth ratio of 2.00 and a beta of 1.07.

Truist Financial (NYSE:TFCGet Free Report) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. As a group, equities research analysts expect that Truist Financial Co. will post 3.37 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 10th were given a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.46%. Truist Financial’s payout ratio is -157.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TFC. Piper Sandler upped their price target on Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Citigroup upped their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group upped their price objective on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Stephens upped their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $43.17.

View Our Latest Research Report on TFC

Truist Financial Company Profile

(Free Report)

Truist Financial Corporation, a financial services 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.

Featured Articles

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

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.