Cadence Bank Has $11.21 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Cadence Bank boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 39.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 258,331 shares of the insurance provider’s stock after acquiring an additional 73,147 shares during the quarter. Truist Financial accounts for about 0.8% of Cadence Bank’s investment portfolio, making the stock its 26th largest holding. Cadence Bank’s holdings in Truist Financial were worth $11,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital International Investors lifted its position in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after buying an additional 534,740 shares during the period. Amundi grew its holdings in shares of Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares in the last quarter. FMR LLC grew its holdings in shares of Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Truist Financial by 12.4% in the fourth quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider’s stock worth $431,687,000 after acquiring an additional 1,101,256 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $35.88 on Friday. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market cap of $46.83 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91. The business’s 50 day moving average is $41.44 and its two-hundred day moving average is $43.82. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lowered their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, April 12th. Finally, Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average price target of $50.22.

About Truist Financial

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.