Truist Financial Corporation $TFC Stock Holdings Lifted by TD Asset Management Inc

TD Asset Management Inc lifted its holdings in Truist Financial Corporation (NYSE:TFC) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 619,151 shares of the insurance provider’s stock after purchasing an additional 22,607 shares during the period. TD Asset Management Inc’s holdings in Truist Financial were worth $30,468,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Truist Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock worth $5,892,453,000 after buying an additional 701,049 shares during the last quarter. Capital International Investors lifted its position in shares of Truist Financial by 0.3% in the 3rd quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock worth $4,921,717,000 after buying an additional 346,423 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Truist Financial by 37.6% in the 4th quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock worth $516,732,000 after buying an additional 2,867,449 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Truist Financial by 13,511.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after buying an additional 10,310,523 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Truist Financial in the 4th quarter worth about $502,340,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TFC. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Morgan Stanley cut their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada lifted their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Nine equities research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Trading Up 0.1%

Shares of NYSE:TFC opened at $49.24 on Friday. The company has a market cap of $61.35 billion, a PE ratio of 12.22, a P/E/G ratio of 0.84 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $48.63 and its 200 day moving average price is $48.97. Truist Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $56.19.

Truist Financial (NYSE:TFC) last released 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 firm had revenue of $5.20 billion for 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%. Truist Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Sell-side analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) 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.