Swedbank AB Acquires 128,748 Shares of Truist Financial Corporation $TFC

Swedbank AB raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 18.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 839,372 shares of the insurance provider’s stock after acquiring an additional 128,748 shares during the period. Swedbank AB owned about 0.07% of Truist Financial worth $41,305,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter valued at approximately $28,000. Maseco LLP boosted its stake in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares during the period. Ancora Advisors LLC boosted its stake in shares of Truist Financial by 259.1% during the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the period. Finally, Bare Financial Services Inc boosted its stake in shares of Truist Financial by 56.9% during the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 298 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $48.45 on Monday. The stock has a fifty day moving average of $47.87 and a 200 day moving average of $48.75. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19. The firm has a market capitalization of $60.37 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.83 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the firm posted $0.87 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Friday, May 1st. Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Royal Bank Of Canada raised their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Morgan Stanley dropped their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.