Handelsbanken Fonder AB Grows Stake in Truist Financial Co. (NYSE:TFC)

Handelsbanken Fonder AB grew its holdings in Truist Financial Co. (NYSE:TFC) by 4.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 374,623 shares of the insurance provider’s stock after buying an additional 14,568 shares during the quarter. Handelsbanken Fonder AB’s holdings in Truist Financial were worth $13,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morton Brown Family Wealth LLC lifted its holdings in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after buying an additional 649 shares during the period. OFI Invest Asset Management purchased a new position in shares of Truist Financial in the 3rd quarter valued at approximately $26,000. Criterion Capital Advisors LLC purchased a new position in shares of Truist Financial in the 4th quarter valued at approximately $38,000. Operose Advisors LLC purchased a new position in Truist Financial during the third quarter valued at $31,000. Finally, Tyler Stone Wealth Management purchased a new position in Truist Financial during the third quarter valued at $33,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $38.85 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The business has a 50-day moving average price of $36.76 and a 200 day moving average price of $34.70.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, analysts predict that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

A number of analysts have commented on TFC shares. Piper Sandler lifted their target price on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a report on Monday. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, January 4th. Jefferies Financial Group boosted their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Barclays boosted their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.59.

About Truist Financial

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.