Truist Financial Corporation $TFC Shares Acquired by Vise Technologies Inc.

Vise Technologies Inc. grew its position in Truist Financial Corporation (NYSE:TFC) by 39.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,785 shares of the insurance provider’s stock after purchasing an additional 11,612 shares during the period. Vise Technologies Inc.’s holdings in Truist Financial were worth $2,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TFC. Wellington Management Group LLP lifted its stake in shares of Truist Financial by 13,511.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $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 in the 4th quarter valued at about $502,340,000. American Assets Investment Management LLC lifted its stake in shares of Truist Financial by 781.3% in the 4th quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock valued at $166,527,000 after purchasing an additional 3,000,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Truist Financial by 37.6% in the 4th quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock valued at $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 in the 3rd quarter valued at about $115,417,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.1%

Shares of TFC opened at $49.24 on Monday. The stock’s 50-day moving average is $48.63 and its two-hundred day moving average is $49.00. The stock has a market cap of $61.35 billion, a PE ratio of 12.22, a P/E/G ratio of 0.84 and a beta of 0.89. Truist Financial Corporation has a 12 month low of $38.83 and a 12 month 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.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. Truist Financial’s payout ratio is 51.61%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TFC. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, May 1st. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. reduced their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Morgan Stanley reduced their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial 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.