Andra AP fonden Takes Position in Truist Financial Corporation $TFC

Andra AP fonden acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 48,718 shares of the insurance provider’s stock, valued at approximately $2,240,000.

Other large investors have also bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in Truist Financial during the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in shares of Truist Financial in the 4th quarter valued at about $26,000. McMillan Office Inc. bought a new stake in shares of Truist Financial in the fourth quarter valued at about $31,000. Ancora Advisors LLC lifted its holdings in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Finally, Maseco LLP boosted its position in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

TFC opened at $51.18 on Friday. Truist Financial Corporation has a 52-week low of $40.78 and a 52-week high of $56.19. The firm has a market capitalization of $63.77 billion, a PE ratio of 11.74, a PEG ratio of 0.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $49.72 and its 200 day simple moving average is $49.55.

Truist Financial (NYSE:TFC) last released its earnings results 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 analysts’ expectations of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 4.1%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $53.00 price objective (down from $53.50) on shares of Truist Financial in a report on Monday. Robert W. Baird boosted their target price on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. UBS Group cut shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Finally, Evercore reiterated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.61.

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.