Universal Beteiligungs und Servicegesellschaft mbH Purchases 1,874 Shares of Truist Financial Corporation (NYSE:TFC)

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 0.2% during the first quarter, Holdings Channel.com reports. The fund owned 849,010 shares of the insurance provider’s stock after acquiring an additional 1,874 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Truist Financial were worth $34,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Comerica Bank grew its holdings in shares of Truist Financial by 3.6% in the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock valued at $19,499,000 after purchasing an additional 15,499 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Truist Financial by 81.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock valued at $48,085,000 after purchasing an additional 498,531 shares in the last quarter. Code Waechter LLC purchased a new position in shares of Truist Financial in the first quarter valued at $365,000. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of Truist Financial by 4.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider’s stock valued at $17,927,000 after purchasing an additional 19,286 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Truist Financial by 2.8% in the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider’s stock valued at $97,291,000 after purchasing an additional 60,848 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TFC. Stephens lowered their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Piper Sandler lowered their target price on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Barclays lowered their target price on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.72.

Truist Financial Trading Up 1.1%

TFC opened at $45.23 on Wednesday. The firm has a market cap of $59.22 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.61 and a beta of 0.85. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The business’s 50 day moving average is $41.67 and its two-hundred day moving average is $42.04. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was down 406.0% compared to the same quarter last year. On average, research analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. Truist Financial’s payout ratio is 56.68%.

About Truist Financial

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.