Amundi Grows Position in Truist Financial Co. (NYSE:TFC)

Amundi increased its holdings in Truist Financial Co. (NYSE:TFC) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,683,345 shares of the insurance provider’s stock after acquiring an additional 1,450,323 shares during the quarter. Amundi owned approximately 1.78% of Truist Financial worth $1,040,718,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank lifted its stake in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial during the third quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new stake in shares of Truist Financial during the third quarter valued at about $45,000. Finally, True Wealth Design LLC purchased a new stake in shares of Truist Financial during the third quarter valued at about $51,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.0 %

Truist Financial stock opened at $42.25 on Friday. 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’s 50 day simple moving average is $45.73 and its two-hundred day simple moving average is $44.65. The firm has a market cap of $55.15 billion, a PE ratio of 12.69, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.92%. Truist Financial’s dividend payout ratio is presently 62.46%.

Analyst Upgrades and Downgrades

Several research firms have commented on TFC. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Compass Point increased their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Company 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.