Hsbc Holdings PLC Purchases 671,528 Shares of Truist Financial Corporation $TFC

Hsbc Holdings PLC raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 26.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,194,110 shares of the insurance provider’s stock after buying an additional 671,528 shares during the quarter. Hsbc Holdings PLC’s holdings in Truist Financial were worth $157,430,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in shares of Truist Financial in the fourth quarter valued at $25,000. Swiss RE Ltd. bought a new stake in Truist Financial in the fourth quarter worth $26,000. McMillan Office Inc. purchased a new stake in Truist Financial during the fourth quarter valued at $31,000. Maseco LLP raised its stake in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TFC. JPMorgan Chase & Co. dropped their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Jefferies Financial Group restated a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Morgan Stanley lowered their price target on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Royal Bank Of Canada increased their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.79.

Truist Financial Stock Performance

NYSE:TFC opened at $48.33 on Friday. The firm has a market capitalization of $60.21 billion, a PE ratio of 11.99, a PEG ratio of 0.83 and a beta of 0.89. The stock’s fifty day moving average is $49.16 and its 200 day moving average is $49.24. Truist Financial Corporation has a fifty-two week low of $39.94 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 quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. Truist Financial’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4.5 earnings per share for the current 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 4.3%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.

About Truist Financial

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.