Capital International Inc. CA Grows Position in Truist Financial Co. (NYSE:TFC)

Capital International Inc. CA raised its position in Truist Financial Co. (NYSE:TFC) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 829,286 shares of the insurance provider’s stock after purchasing an additional 98,508 shares during the quarter. Capital International Inc. CA owned 0.06% of Truist Financial worth $35,974,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares during the period. Principal Financial Group Inc. increased its stake in Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the period. Country Club Bank lifted its position in shares of Truist Financial by 719.8% during the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after purchasing an additional 39,949 shares during the last quarter. David Wealth Management LLC purchased a new stake in shares of Truist Financial during the fourth quarter valued at $2,354,000. Finally, Glass Wealth Management Co LLC grew its holdings in shares of Truist Financial by 9.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock worth $2,949,000 after purchasing an additional 5,900 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TFC shares. Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Citigroup decreased their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.22.

Truist Financial Price Performance

Shares of NYSE TFC opened at $35.88 on Friday. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $46.83 billion, a PE ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91. The business has a 50-day simple moving average of $41.21 and a two-hundred day simple moving average of $43.78.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, equities analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.80%. Truist Financial’s payout ratio is presently 62.46%.

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.