Hsbc Holdings PLC Purchases 671,528 Shares of Truist Financial Corporation $TFC

Hsbc Holdings PLC boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,194,110 shares of the insurance provider’s stock after acquiring an additional 671,528 shares during the quarter. Hsbc Holdings PLC owned 0.26% of Truist Financial worth $157,430,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares during the period. Woodline Partners LP lifted its holdings in Truist Financial by 39.5% during the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Truist Financial in the second quarter worth approximately $575,000. AXA S.A. boosted its position in shares of Truist Financial by 23.1% in the second 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 during the period. Finally, Main Street Financial Solutions LLC increased its stake in shares of Truist Financial by 20.1% in the second 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. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TFC. Stephens initiated coverage on shares of Truist Financial in a research report on Monday, June 15th. They set an “overweight” rating and a $59.00 price objective on the stock. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Morgan Stanley cut 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 on the stock in a report on Tuesday, April 7th. Finally, Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.79.

Truist Financial Trading Down 0.0%

Shares of TFC opened at $48.33 on Friday. The firm has a market cap of $60.21 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 0.83 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 1 year low of $39.94 and a 1 year high of $56.19. The company has a 50 day simple moving average of $49.16 and a two-hundred day simple moving average of $49.24.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Truist Financial Corporation will post 4.5 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 4.3%. Truist Financial’s payout ratio is presently 51.61%.

About Truist Financial

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.