Commerzbank Aktiengesellschaft FI Increases Stock Holdings in Truist Financial Corporation $TFC

Commerzbank Aktiengesellschaft FI raised its stake in Truist Financial Corporation (NYSE:TFC) by 17.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 54,895 shares of the insurance provider’s stock after acquiring an additional 8,269 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Truist Financial were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Amundi grew its stake in shares of Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after purchasing an additional 1,091,311 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after buying an additional 3,188,999 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Truist Financial by 21.8% in the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after buying an additional 2,158,639 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Truist Financial by 0.9% in the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock valued at $391,404,000 after buying an additional 89,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Truist Financial by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock valued at $330,408,000 after buying an additional 408,726 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TFC has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Evercore ISI boosted their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.89.

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $42.32 on Friday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock has a market cap of $54.57 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. The business has a fifty day moving average of $45.16 and a 200-day moving average of $42.16. 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 released its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the firm earned $0.91 earnings per share. The business’s revenue was down 406.0% compared to the same quarter last year. As a group, analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. 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.