Schaper Benz & Wise Investment Counsel Inc. WI Buys 3,979 Shares of Truist Financial Co. (NYSE:TFC)

Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,702 shares of the insurance provider’s stock after buying an additional 3,979 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Truist Financial were worth $10,975,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank raised its holdings in Truist Financial by 3.6% during the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock valued at $19,499,000 after buying an additional 15,499 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Truist Financial by 81.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock valued at $48,085,000 after purchasing an additional 498,531 shares during the last quarter. Stifel Financial Corp grew its position in shares of Truist Financial by 2.8% in the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider’s stock valued at $97,291,000 after purchasing an additional 60,848 shares during the last quarter. Glass Wealth Management Co LLC grew its position in shares of Truist Financial by 9.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock valued at $2,949,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Truist Financial by 97.1% in the fourth quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider’s stock valued at $3,984,000 after purchasing an additional 45,235 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TFC. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Citigroup lowered their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company lowered their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, Barclays lowered their price target on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Trading Up 1.0%

TFC stock opened at $39.37 on Tuesday. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The firm has a market cap of $51.56 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.63 and a beta of 0.84. The business’s 50 day moving average is $38.86 and its 200-day moving average is $42.28. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $0.90 EPS. Equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.28%. Truist Financial’s dividend payout ratio 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.