Fideuram Asset Management Ireland dac Buys Shares of 14,726 Truist Financial Corporation $TFC

Fideuram Asset Management Ireland dac bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,726 shares of the insurance provider’s stock, valued at approximately $666,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the 3rd quarter valued at $28,000. Maseco LLP boosted its position in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the period. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares during the period. Ancora Advisors LLC boosted its position in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 500 shares during the period. Finally, Bare Financial Services Inc boosted its position in shares of Truist Financial by 56.9% in the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 298 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.7%

TFC opened at $48.12 on Friday. The stock has a market cap of $59.96 billion, a PE ratio of 11.94, a P/E/G ratio of 0.82 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 52 week low of $38.67 and a 52 week high of $56.19. The business’s fifty day simple moving average is $48.28 and its 200 day simple moving average is $48.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio is presently 51.61%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a report on Friday, April 17th. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Company 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.