Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires 10,782 Shares of Truist Financial Corporation $TFC

Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 87.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,148 shares of the insurance provider’s stock after acquiring an additional 10,782 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Truist Financial were worth $1,064,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TFC. Vanguard Group Inc. increased its position in shares of Truist Financial by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after purchasing an additional 701,049 shares during the last quarter. Capital International Investors boosted its holdings in shares of Truist Financial by 0.7% in the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after buying an additional 715,433 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Truist Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after buying an additional 2,226,288 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Truist Financial by 2.9% in the 4th quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after buying an additional 597,255 shares during the last quarter. Finally, Auto Owners Insurance Co grew its position in Truist Financial by 4,821.0% during the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock valued at $697,428,000 after buying an additional 13,884,480 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 0.1%

Truist Financial stock opened at $50.95 on Friday. The firm has a 50 day simple moving average of $49.17 and a 200 day simple moving average of $49.40. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19. The firm has a market capitalization of $63.47 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 0.87 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.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 prior year, the business posted $0.87 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is presently 51.61%.

Analysts Set New Price Targets

A number of analysts recently issued reports on TFC shares. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday. Royal Bank Of Canada increased their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Friday, May 1st. Finally, Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.26.

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.