Truist Financial Corporation $TFC Shares Acquired by Vise Technologies Inc.

Vise Technologies Inc. increased its holdings in Truist Financial Corporation (NYSE:TFC) by 39.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,785 shares of the insurance provider’s stock after acquiring an additional 11,612 shares during the quarter. Vise Technologies Inc.’s holdings in Truist Financial were worth $2,007,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. increased its holdings in Truist Financial by 18.6% in the third quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock valued at $7,728,000 after buying an additional 26,530 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Truist Financial by 2.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider’s stock valued at $19,285,000 after buying an additional 10,706 shares during the last quarter. Versor Investments LP increased its holdings in Truist Financial by 64.4% in the third quarter. Versor Investments LP now owns 25,008 shares of the insurance provider’s stock valued at $1,143,000 after buying an additional 9,800 shares during the last quarter. Cibc World Market Inc. increased its holdings in Truist Financial by 17.2% in the third quarter. Cibc World Market Inc. now owns 174,041 shares of the insurance provider’s stock valued at $7,957,000 after buying an additional 25,590 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. bought a new stake in Truist Financial in the third quarter valued at about $1,061,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.1%

NYSE:TFC opened at $49.24 on Monday. Truist Financial Corporation has a 12-month low of $38.83 and a 12-month high of $56.19. The firm has a market capitalization of $61.35 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $48.63 and a 200 day simple moving average of $49.00.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank Of Canada boosted their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, May 1st. Morgan Stanley cut their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Finally, Jefferies Financial Group restated a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a research report on Friday, April 17th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.