Keybank National Association OH Increases Stake in Truist Financial Corporation $TFC

Keybank National Association OH grew its holdings in Truist Financial Corporation (NYSE:TFC) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,237 shares of the insurance provider’s stock after acquiring an additional 14,539 shares during the period. Keybank National Association OH’s holdings in Truist Financial were worth $4,654,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new stake in shares of Truist Financial in the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new position in Truist Financial during the fourth quarter valued at $26,000. McMillan Office Inc. bought a new stake in Truist Financial during the fourth quarter valued at about $31,000. Maseco LLP grew its holdings in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $50.95 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The business has a 50-day moving average price of $49.17 and a 200-day moving average price of $49.40. The firm has a market cap of $63.47 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.87 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter last year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

TFC has been the topic of several recent research reports. Royal Bank Of Canada raised their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Robert W. Baird downgraded 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. JPMorgan Chase & Co. dropped their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.