Zurcher Kantonalbank Zurich Cantonalbank Has $31.50 Million Holdings in Truist Financial Corporation $TFC

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 101.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 640,007 shares of the insurance provider’s stock after purchasing an additional 323,031 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Truist Financial worth $31,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. BankPlus Trust Department increased its position in Truist Financial by 2.1% during the 4th quarter. BankPlus Trust Department now owns 39,066 shares of the insurance provider’s stock valued at $1,922,000 after purchasing an additional 788 shares during the period. Elevated Capital Advisors LLC increased its position in Truist Financial by 2.5% during the 4th quarter. Elevated Capital Advisors LLC now owns 16,982 shares of the insurance provider’s stock valued at $836,000 after purchasing an additional 417 shares during the period. First Horizon Corp increased its position in Truist Financial by 7.9% during the 4th quarter. First Horizon Corp now owns 15,388 shares of the insurance provider’s stock valued at $757,000 after purchasing an additional 1,132 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Truist Financial by 6.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 41,017 shares of the insurance provider’s stock valued at $2,018,000 after purchasing an additional 2,539 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in Truist Financial by 0.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 46,183 shares of the insurance provider’s stock valued at $2,273,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $51.07 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The business’s fifty day moving average is $48.27 and its 200 day moving average is $47.96. Truist Financial Corporation has a 12-month low of $35.67 and a 12-month high of $56.19. The stock has a market cap of $63.37 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period last year, the business earned $0.87 EPS. The business’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts anticipate that Truist Financial Corporation will post 4.44 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the transaction, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Baron Maguire sold 13,000 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the transaction, the chief financial officer owned 74,323 shares in the company, valued at approximately $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings upgraded Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a report on Friday. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price target on the stock in a report on Monday, March 9th. Finally, Argus increased their price target on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $55.41.

About Truist Financial

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.