Commerzbank Aktiengesellschaft FI Sells 21,709 Shares of Truist Financial Corporation $TFC

Commerzbank Aktiengesellschaft FI decreased its position in Truist Financial Corporation (NYSE:TFC) by 31.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,883 shares of the insurance provider’s stock after selling 21,709 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Truist Financial were worth $2,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Auto Owners Insurance Co increased its position in Truist Financial by 4,821.0% in the 4th 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of 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 purchasing an additional 10,310,523 shares during the last quarter. Norges Bank purchased a new position in Truist Financial in the fourth quarter worth $502,340,000. American Assets Investment Management LLC raised its position in Truist Financial by 781.2% in the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock worth $166,527,000 after acquiring an additional 3,000,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Truist Financial by 37.6% in the fourth quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock valued at $516,732,000 after acquiring an additional 2,867,449 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 0.7%

NYSE TFC opened at $51.34 on Wednesday. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The stock has a market capitalization of $63.96 billion, a PE ratio of 11.77, a PEG ratio of 0.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average is $49.53 and its 200 day moving average is $49.52.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.Truist Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. Sell-side analysts forecast that Truist Financial Corporation will post 4.53 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued 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 dividend payout ratio is currently 47.71%.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Bank of America restated a “neutral” rating and issued a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. UBS Group lowered Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $54.61.

Truist Financial Company 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.