Brandes Investment Partners LP Has $39.51 Million Holdings in Truist Financial Corporation $TFC

Brandes Investment Partners LP grew its stake in Truist Financial Corporation (NYSE:TFC) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 802,907 shares of the insurance provider’s stock after buying an additional 21,305 shares during the quarter. Brandes Investment Partners LP owned 0.06% of Truist Financial worth $39,511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Truist Financial by 18.6% in the third quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock worth $7,728,000 after purchasing an additional 26,530 shares in the last quarter. Versor Investments LP lifted its position in shares of Truist Financial by 64.4% in the third quarter. Versor Investments LP now owns 25,008 shares of the insurance provider’s stock worth $1,143,000 after purchasing an additional 9,800 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Truist Financial by 17.2% in the third quarter. Cibc World Market Inc. now owns 174,041 shares of the insurance provider’s stock worth $7,957,000 after purchasing an additional 25,590 shares in the last quarter. Edgemoor Investment Advisors Inc. bought a new stake in shares of Truist Financial in the third quarter worth $1,061,000. Finally, Pinnacle Financial Partners Inc. lifted its position in shares of Truist Financial by 30.0% in the third quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after purchasing an additional 40,393 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $49.37 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $48.80 and its two-hundred day moving average price is $49.07. Truist Financial Corporation has a 1 year low of $38.83 and a 1 year high of $56.19. The firm has a market capitalization of $61.51 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, research analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current 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 $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio is presently 51.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TFC. Morgan Stanley cut their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. 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. Royal Bank Of Canada boosted their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. dropped their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.59.

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.