Truist Financial Corporation $TFC Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in Truist Financial Corporation (NYSE:TFC) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,608,268 shares of the insurance provider’s stock after buying an additional 164,052 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Truist Financial were worth $395,642,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TFC. Kemnay Advisory Services Inc. purchased a new position in Truist Financial during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in Truist Financial during the fourth quarter worth $26,000. McMillan Office Inc. purchased a new position in Truist Financial in the 4th quarter valued at about $31,000. Maseco LLP boosted its stake in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Truist Financial by 190.7% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TFC. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $53.00 price objective (down from $53.50) on shares of Truist Financial in a research note on Monday. Stephens dropped their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $54.61.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $51.34 on Wednesday. The company’s fifty day moving average price is $49.53 and its 200 day moving average price is $49.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19. The firm has a market capitalization of $63.96 billion, a P/E ratio of 11.77, a P/E/G ratio of 0.89 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the business earned $0.91 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Truist Financial Corporation will post 4.53 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio is 47.71%.

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.