Epoch Investment Partners Inc. Buys 90,646 Shares of Truist Financial Corporation $TFC

Epoch Investment Partners Inc. boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 7.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,236,435 shares of the insurance provider’s stock after purchasing an additional 90,646 shares during the quarter. Epoch Investment Partners Inc. owned 0.10% of Truist Financial worth $60,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss RE Ltd. acquired a new stake in Truist Financial in the 4th quarter worth about $26,000. McMillan Office Inc. acquired a new stake in Truist Financial in the 4th quarter worth about $31,000. Maseco LLP raised its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its stake 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 worth $32,000 after purchasing an additional 431 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. Morgan Stanley dropped their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Royal Bank Of Canada lifted their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research note on Friday, April 17th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $51.63 on Monday. The firm has a 50 day moving average of $49.10 and a 200-day moving average of $49.18. The stock has a market capitalization of $64.33 billion, a PE ratio of 12.81, a PEG ratio of 0.88 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $38.83 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. On average, equities research analysts predict that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced 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 was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s payout ratio is presently 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.