BW Gestao de Investimentos Ltda. Takes $3.01 Million Position in Truist Financial Corporation $TFC

BW Gestao de Investimentos Ltda. acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 61,110 shares of the insurance provider’s stock, valued at approximately $3,007,000.

Several other hedge funds have also recently bought and sold shares of TFC. Vanguard Group Inc. increased its position in Truist Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock worth $5,892,453,000 after buying an additional 701,049 shares in the last quarter. Capital International Investors boosted its holdings in Truist Financial by 0.3% in the third quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock valued at $4,921,717,000 after acquiring an additional 346,423 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Truist Financial by 13,511.7% in the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after acquiring an additional 10,310,523 shares during the last quarter. Norges Bank acquired a new position in shares of Truist Financial during the fourth quarter worth about $502,340,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Truist Financial by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 8,492,845 shares of the insurance provider’s stock worth $388,300,000 after purchasing an additional 168,464 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFC. Morgan Stanley dropped their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Royal Bank Of Canada upped their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Nine equities research 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, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Price Performance

NYSE TFC opened at $48.10 on Wednesday. The business’s fifty day moving average is $48.34 and its two-hundred day moving average is $48.90. The stock has a market capitalization of $59.92 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.80 and a beta of 0.89. Truist Financial Corporation has a 1 year low of $38.83 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.52 dividend. The ex-dividend date was 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 presently 51.61%.

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.