J.Safra Asset Management Corp Buys Shares of 4,367 Truist Financial Co. (NYSE:TFC)

J.Safra Asset Management Corp acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,367 shares of the insurance provider’s stock, valued at approximately $189,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC raised its stake in Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after acquiring an additional 456,412 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Truist Financial by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after acquiring an additional 288,306 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Truist Financial by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after acquiring an additional 662,179 shares during the last quarter. Finally, FMR LLC raised its stake in Truist Financial by 10.6% in the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock worth $213,983,000 after acquiring an additional 478,886 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TFC. Morgan Stanley raised their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $52.00 in a research note on Wednesday. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Trading Down 1.5 %

TFC stock opened at $43.11 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06. The stock has a market cap of $56.27 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.08. The business’s 50-day moving average is $45.79 and its 200 day moving average is $44.67.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial 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.