Banque Cantonale Vaudoise Boosts Position in Truist Financial Corporation $TFC

Banque Cantonale Vaudoise raised its position in Truist Financial Corporation (NYSE:TFC) by 964.1% during the first quarter, Holdings Channel reports. The fund owned 13,578 shares of the insurance provider’s stock after acquiring an additional 12,302 shares during the period. Banque Cantonale Vaudoise’s holdings in Truist Financial were worth $623,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TFC. Kemnay Advisory Services Inc. bought a new stake in Truist Financial during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in Truist Financial in the fourth quarter worth approximately $26,000. McMillan Office Inc. bought a new position in Truist Financial in the fourth quarter worth approximately $31,000. Maseco LLP boosted its stake in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research note on Friday, April 17th. Royal Bank Of Canada boosted their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Finally, Stephens initiated coverage on shares of Truist Financial in a report on Monday, June 15th. They issued an “overweight” rating and a $59.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.79.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $50.48 on Monday. The firm has a market cap of $62.90 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.86 and a beta of 0.89. The firm has a fifty day moving average price of $49.17 and a 200 day moving average price of $49.35. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, sell-side analysts expect that Truist Financial Corporation will post 4.5 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 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.