Eurizon Capital SGR S.p.A. Acquires New Stake in Truist Financial Corporation $TFC

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 530,054 shares of the insurance provider’s stock, valued at approximately $26,087,000.

Other large investors have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial during the third quarter valued at $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 acquiring an additional 228 shares during the last quarter. 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 acquiring an additional 431 shares during the last quarter. 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 acquiring an additional 500 shares during the last quarter. 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 acquiring an additional 298 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Morgan Stanley decreased 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. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Finally, Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Stock Performance

Truist Financial stock opened at $48.12 on Friday. The stock’s 50-day moving average is $48.28 and its 200-day moving average is $48.86. The company has a market cap of $59.96 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. 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 Corporation has a 12 month low of $38.67 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last released 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 the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. Equities analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

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

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.