UBS Group AG Cuts Stake in Truist Financial Co. (NYSE:TFC)

UBS Group AG lowered its holdings in shares of Truist Financial Co. (NYSE:TFCFree Report) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,812,756 shares of the insurance provider’s stock after selling 588,100 shares during the period. UBS Group AG owned 0.29% of Truist Financial worth $109,083,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TFC. Canada Pension Plan Investment Board lifted its stake in shares of Truist Financial by 64.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,679,558 shares of the insurance provider’s stock worth $48,052,000 after acquiring an additional 660,094 shares during the period. Financial Security Advisor Inc. acquired a new stake in shares of Truist Financial in the 3rd quarter worth $1,012,000. Choreo LLC lifted its stake in shares of Truist Financial by 64.4% in the 3rd quarter. Choreo LLC now owns 14,963 shares of the insurance provider’s stock worth $428,000 after acquiring an additional 5,862 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Truist Financial in the 3rd quarter worth $448,000. Finally, Huntington National Bank lifted its stake in shares of Truist Financial by 25.1% in the 3rd quarter. Huntington National Bank now owns 80,250 shares of the insurance provider’s stock worth $2,296,000 after acquiring an additional 16,088 shares during the period. Institutional investors and hedge funds own 71.11% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, January 4th. Piper Sandler raised their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. UBS Group raised their price objective on shares of Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Odeon Capital Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective for the company in a research note on Thursday, December 14th. Finally, Barclays raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.87.

View Our Latest Research Report on TFC

Truist Financial Stock Up 0.9 %

Shares of NYSE TFC opened at $35.84 on Monday. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $49.32. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $36.44 and a 200-day simple moving average of $32.14.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. Sell-side analysts anticipate that Truist Financial Co. will post 3.39 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.80%. Truist Financial’s payout ratio is -192.59%.

Truist Financial Company Profile

(Free Report)

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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