Stifel Financial Corp Buys 60,848 Shares of Truist Financial Co. (NYSE:TFC)

Stifel Financial Corp boosted its stake in Truist Financial Co. (NYSE:TFC) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,242,763 shares of the insurance provider’s stock after buying an additional 60,848 shares during the quarter. Stifel Financial Corp’s holdings in Truist Financial were worth $97,291,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Norges Bank bought a new stake in Truist Financial during the fourth quarter worth about $402,828,000. FMR LLC increased its holdings in shares of Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after buying an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $198,051,000. Finally, Marshall Wace LLP boosted its holdings in shares of Truist Financial by 92.8% in the 4th quarter. Marshall Wace LLP now owns 3,639,216 shares of the insurance provider’s stock worth $157,869,000 after acquiring an additional 1,752,001 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TFC has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley lowered their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Barclays lowered their price objective on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Raymond James cut shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.28.

Truist Financial Price Performance

Shares of TFC opened at $35.36 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $46.16 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The stock’s 50-day moving average price is $40.99 and its two-hundred day moving average price is $43.76. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.88%. Truist Financial’s dividend payout ratio is presently 61.36%.

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.