Swedbank AB Increases Stock Position in Truist Financial Corporation $TFC

Swedbank AB raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 839,372 shares of the insurance provider’s stock after buying an additional 128,748 shares during the quarter. Swedbank AB’s holdings in Truist Financial were worth $41,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Truist Financial during the fourth quarter valued at $609,000. Pathfinder Wealth Consulting Inc. purchased a new position in Truist Financial during the fourth quarter valued at $337,000. Legato Capital Management LLC purchased a new position in Truist Financial during the fourth quarter valued at $2,324,000. Evoke Wealth LLC lifted its position in Truist Financial by 36.1% during the fourth quarter. Evoke Wealth LLC now owns 6,866 shares of the insurance provider’s stock valued at $338,000 after buying an additional 1,822 shares during the period. Finally, Principle Wealth Partners LLC lifted its position in Truist Financial by 0.8% during the fourth quarter. Principle Wealth Partners LLC now owns 63,300 shares of the insurance provider’s stock valued at $3,115,000 after buying an additional 517 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Friday, May 1st. Finally, Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $48.45 on Monday. Truist Financial Corporation has a 1-year low of $38.27 and a 1-year high of $56.19. 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 fifty day moving average price of $47.87 and a 200-day moving average price of $48.75. The company has a market capitalization of $60.37 billion, a PE ratio of 12.02, a PEG ratio of 0.83 and a beta of 0.92.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts expect that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Truist Financial Company 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.