Fideuram Asset Management Ireland dac Buys New Holdings in Truist Financial Corporation $TFC

Fideuram Asset Management Ireland dac bought a new stake in Truist Financial Corporation (NYSE:TFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,726 shares of the insurance provider’s stock, valued at approximately $666,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP increased its holdings in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Truist Financial during the 2nd quarter worth approximately $575,000. AXA S.A. increased its holdings in Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.7%

NYSE:TFC opened at $48.12 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $59.96 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. The firm’s 50 day moving average is $48.28 and its 200 day moving average is $48.86. Truist Financial Corporation has a 12 month low of $38.67 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last posted 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. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. Truist Financial’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Sell-side analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors 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 of this dividend is Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Analysts Set New Price Targets

A number of analysts have commented on TFC shares. Morgan Stanley decreased their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Evercore reissued an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. Finally, Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.