Oregon Public Employees Retirement Fund Trims Holdings in Truist Financial Corporation (NYSE:TFC)

Oregon Public Employees Retirement Fund reduced its stake in Truist Financial Corporation (NYSE:TFC) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,075 shares of the insurance provider’s stock after selling 730 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Truist Financial were worth $4,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the 4th quarter valued at about $26,000. Navigoe LLC acquired a new position in Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial in the 4th quarter valued at approximately $45,000. Rossby Financial LCC acquired a new stake in shares of Truist Financial during the 1st quarter worth approximately $43,000. Finally, TCTC Holdings LLC raised its position in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock valued at $57,000 after buying an additional 287 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. TD Cowen initiated coverage on Truist Financial in a research report on Thursday, May 15th. They issued a “hold” rating and a $44.00 price objective for the company. Morgan Stanley decreased their price target on 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. Argus set a $43.00 price target on Truist Financial in a report on Monday, April 21st. Wells Fargo & Company reduced their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, Barclays decreased their target price on shares of 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. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.44.

Truist Financial Stock Performance

NYSE:TFC opened at $45.23 on Friday. The company has a fifty day simple moving average of $40.29 and a two-hundred day simple moving average of $41.95. The company has a market cap of $59.23 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.67 and a beta of 0.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

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

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.60%. Truist Financial’s payout ratio is 61.36%.

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.