Dymon Asia Capital Singapore PTE. LTD. Invests $994,000 in Truist Financial Corporation $TFC

Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,200 shares of the insurance provider’s stock, valued at approximately $994,000.

A number of other large investors also recently modified their holdings of TFC. Wellington Management Group LLP lifted its position in shares of Truist Financial by 13,511.7% during the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after purchasing an additional 10,310,523 shares in the last quarter. Norges Bank acquired a new position in shares of Truist Financial during the fourth quarter worth approximately $502,340,000. American Assets Investment Management LLC lifted its position in shares of Truist Financial by 781.3% during the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock worth $166,527,000 after purchasing an additional 3,000,000 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Truist Financial by 37.6% during the fourth quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock worth $516,732,000 after purchasing an additional 2,867,449 shares in the last quarter. Finally, Azora Capital LP acquired a new position in shares of Truist Financial during the third quarter worth approximately $115,417,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 1.9%

TFC opened at $51.63 on Friday. Truist Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $64.33 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89. The firm has a 50 day simple moving average of $49.10 and a 200 day simple moving average of $49.16.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio is presently 51.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Friday, May 1st. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on shares of 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 shares of 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 research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.