Mitsubishi UFJ Trust & Banking Corp Has $27.88 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 715,246 shares of the insurance provider’s stock after selling 18,199 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of Truist Financial worth $27,877,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TFC. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at $29,000. Missouri Trust & Investment Co raised its position in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Truist Financial in the first quarter worth approximately $32,000. Morton Brown Family Wealth LLC boosted its holdings in Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 649 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new stake in Truist Financial during the 4th quarter valued at approximately $34,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Down 0.1 %

Shares of Truist Financial stock traded down $0.03 during trading hours on Friday, reaching $42.41. The company’s stock had a trading volume of 9,976,073 shares, compared to its average volume of 7,032,081. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s fifty day simple moving average is $38.38 and its two-hundred day simple moving average is $37.51. The company has a market capitalization of $56.75 billion, a P/E ratio of -32.13, a P/E/G ratio of 2.12 and a beta of 1.07. Truist Financial Co. has a one year low of $26.57 and a one year high of $43.46.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, research analysts forecast that Truist Financial Co. will post 3.44 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 4.90%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TFC shares. Evercore ISI restated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a research report on Thursday, May 9th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Citigroup increased their price target on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Wednesday. Finally, Jefferies Financial Group upped their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.28.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.