Itau Unibanco Holding S.A. Purchases Shares of 7,000 Truist Financial Co. (NYSE:TFC)

Itau Unibanco Holding S.A. acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,000 shares of the insurance provider’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its stake in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in Truist Financial during the fourth quarter valued at approximately $26,000. Navigoe LLC bought a new stake in Truist Financial in the fourth quarter worth $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter worth $45,000. Finally, City State Bank raised its position in Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 716 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Shares of TFC stock opened at $38.62 on Friday. The stock’s 50-day moving average is $39.59 and its 200 day moving average is $43.48. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $50.41 billion, a P/E ratio of 11.60, a PEG ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period last year, the business earned $0.90 EPS. Research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.39%. Truist Financial’s dividend payout ratio is presently 61.36%.

Analyst Ratings Changes

A number of research firms recently issued reports on TFC. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Monday. Stephens reduced their price target on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Company Profile

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.