ABN Amro Investment Solutions Lowers Stock Holdings in Truist Financial Corporation $TFC

ABN Amro Investment Solutions cut its position in Truist Financial Corporation (NYSE:TFC) by 45.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,543 shares of the insurance provider’s stock after selling 51,761 shares during the quarter. ABN Amro Investment Solutions’ holdings in Truist Financial were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

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

Truist Financial Trading Down 1.1%

TFC opened at $51.18 on Friday. The firm has a market cap of $63.77 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The business’s 50 day moving average is $49.72 and its two-hundred day moving average is $49.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. On average, research analysts predict that Truist Financial Corporation will post 4.59 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio is currently 47.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TFC. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Morgan Stanley reissued an “equal weight” rating and issued a $54.00 price objective (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada upped their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target 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.