Truist Financial Corporation $TFC Stock Holdings Increased by Federation des caisses Desjardins du Quebec

Federation des caisses Desjardins du Quebec increased its holdings in Truist Financial Corporation (NYSE:TFC) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,764 shares of the insurance provider’s stock after purchasing an additional 17,529 shares during the quarter. Federation des caisses Desjardins du Quebec’s holdings in Truist Financial were worth $4,929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Code Waechter LLC bought a new stake in shares of Truist Financial in the 1st quarter worth approximately $365,000. Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Truist Financial by 4.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider’s stock worth $17,927,000 after purchasing an additional 19,286 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in shares of Truist Financial by 55.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock worth $5,530,000 after purchasing an additional 47,717 shares in the last quarter. Credit Agricole S A raised its holdings in shares of Truist Financial by 76.4% in the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after purchasing an additional 216,672 shares in the last quarter. Finally, Adapt Wealth Advisors LLC raised its holdings in shares of Truist Financial by 78.9% in the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock worth $842,000 after purchasing an additional 9,021 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $47.09 on Friday. The company’s 50 day moving average price is $44.86 and its 200 day moving average price is $41.78. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market capitalization of $60.71 billion, a PE ratio of 12.83, a PEG ratio of 1.73 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business’s revenue was down 406.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Research analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s payout ratio is currently 56.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TFC shares. Morgan Stanley reissued a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. TD Cowen started coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a “hold” rating and a $44.00 target price on the stock. Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price of $48.47.

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider directly owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.