Truist Financial Corporation $TFC Stake Lowered by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 297,560 shares of the insurance provider’s stock after selling 12,080 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Truist Financial were worth $14,643,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Maseco LLP boosted its stake in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares in the last quarter. Ancora Advisors LLC boosted its stake in shares of Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 500 shares in the last quarter. Bare Financial Services Inc boosted its stake in shares of Truist Financial by 56.9% during the 4th quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 298 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Truist Financial by 2,178.4% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 843 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 806 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFC has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Jefferies Financial Group reiterated 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 report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Stock Down 0.2%

Truist Financial stock opened at $48.12 on Monday. The firm has a market cap of $59.96 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 0.82 and a beta of 0.89. 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 fifty-two week low of $38.67 and a fifty-two week high of $56.19. The firm has a fifty day moving average price of $48.28 and a two-hundred day moving average price of $48.89.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio is currently 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.