Truist Financial Corporation $TFC Shares Acquired by Candriam S.C.A.

Candriam S.C.A. raised its stake in shares of Truist Financial Corporation (NYSE:TFC) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,726 shares of the insurance provider’s stock after buying an additional 10,016 shares during the quarter. Candriam S.C.A.’s holdings in Truist Financial were worth $6,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. 3Chopt Investment Partners LLC lifted its position in Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares in the last quarter. IFP Advisors Inc grew its position in Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after acquiring an additional 194 shares in the last quarter. PCB Capital LLC grew its position in Truist Financial by 3.0% in the first quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after acquiring an additional 198 shares in the last quarter. AlphaCore Capital LLC raised its stake in shares of Truist Financial by 8.3% during the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC raised its stake in shares of Truist Financial by 5.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 199 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TFC has been the subject of several analyst reports. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research report on Friday, April 17th. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Finally, Evercore reaffirmed an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $54.47.

Truist Financial Stock Performance

Shares of TFC stock opened at $51.99 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average of $49.19 and a two-hundred day moving average of $49.44. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The company has a market cap of $64.78 billion, a P/E ratio of 12.90, a PEG ratio of 0.91 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 for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $5.20 billion for 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 firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. As a group, analysts anticipate that Truist Financial Corporation will post 4.51 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio is 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.