Edmp Inc. Decreases Stock Position in Truist Financial Corporation (NYSE:TFC)

Edmp Inc. lessened its stake in Truist Financial Corporation (NYSE:TFC) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,522 shares of the insurance provider’s stock after selling 640 shares during the quarter. Truist Financial comprises about 2.4% of Edmp Inc.’s holdings, making the stock its 12th largest holding. Edmp Inc.’s holdings in Truist Financial were worth $2,902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors lifted its holdings in Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after buying an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after purchasing an additional 534,740 shares in the last quarter. Amundi raised its stake in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares in the last quarter. Northern Trust Corp raised its stake in shares of Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Truist Financial by 13.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after purchasing an additional 1,307,252 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $41.50 on Wednesday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a market cap of $54.34 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84. The company has a 50-day moving average price of $39.29 and a two-hundred day moving average price of $42.04.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period last year, the firm posted $0.90 earnings per share. Analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TFC shares. Morgan Stanley dropped their price objective on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. TD Cowen began coverage on Truist Financial in a report on Thursday, May 15th. They issued a “hold” rating and a $44.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective 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. Raymond James Financial lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Finally, Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Truist Financial Profile

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.