Caisse DE Depot ET Placement DU Quebec Has $48.09 Million Stake in Truist Financial Co. (NYSE:TFC)

Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 81.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,108,466 shares of the insurance provider’s stock after buying an additional 498,531 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.08% of Truist Financial worth $48,085,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Bangor Savings Bank grew its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the 4th quarter valued at $26,000. Navigoe LLC bought a new stake in Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the 4th quarter worth about $45,000. Finally, City State Bank grew its holdings in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 716 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TFC. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Monday. Keefe, Bruyette & Woods cut their price target on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Wells Fargo & Company decreased their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Piper Sandler cut their target price on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Trading Up 0.7 %

Shares of Truist Financial stock opened at $38.62 on Friday. 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 firm has a 50-day moving average of $39.59 and a 200-day moving average of $43.48. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The stock has a market cap of $50.41 billion, a PE ratio of 11.60, a PEG ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced 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. This represents a $2.08 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is currently 61.36%.

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.