Siemens Fonds Invest GmbH Has $779,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Siemens Fonds Invest GmbH reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 9.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,947 shares of the insurance provider’s stock after selling 1,959 shares during the period. Siemens Fonds Invest GmbH’s holdings in Truist Financial were worth $779,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in Truist Financial by 39.3% during the 4th quarter. Park Avenue Securities LLC now owns 45,361 shares of the insurance provider’s stock worth $1,968,000 after purchasing an additional 12,798 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Truist Financial by 48.7% during 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. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Truist Financial by 150.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 32,175 shares of the insurance provider’s stock worth $1,396,000 after buying an additional 19,315 shares in the last quarter. Carnegie Investment Counsel raised its position in Truist Financial by 1.1% in the 4th quarter. Carnegie Investment Counsel now owns 52,203 shares of the insurance provider’s stock valued at $2,265,000 after buying an additional 557 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in Truist Financial in the 4th quarter valued at approximately $244,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Barclays reduced their target price on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their price target on shares of Truist Financial from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Stephens reduced their price objective on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Finally, Piper Sandler decreased their price objective on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial Stock Up 0.6%

TFC opened at $41.41 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $38.82 and its 200 day simple moving average is $43.23. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The stock has a market cap of $54.23 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm 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. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. Truist Financial’s dividend payout ratio is presently 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.