Raiffeisen Bank International AG Takes $594,000 Position in Truist Financial Co. (NYSE:TFC)

Raiffeisen Bank International AG acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,693 shares of the insurance provider’s stock, valued at approximately $594,000.

A number of other institutional investors have also recently bought and sold shares of TFC. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth about $26,000. Navigoe LLC bought a new position in Truist Financial during the fourth quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in Truist Financial in the fourth quarter valued at approximately $45,000. Brown Lisle Cummings Inc. bought a new stake in Truist Financial in the fourth quarter worth approximately $55,000. Finally, TCTC Holdings LLC increased its stake in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 287 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TFC shares. Barclays reduced 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 note on Monday, April 21st. TD Cowen started coverage on Truist Financial in a research note on Thursday. They set a “hold” rating and a $44.00 price target for the company. Argus set a $43.00 price objective on Truist Financial in a report on Monday, April 21st. Wells Fargo & Company reduced their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Stock Up 0.6%

TFC stock opened at $41.41 on Friday. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $54.23 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The business’s 50-day simple moving average is $38.82 and its 200 day simple moving average is $43.23.

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

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) 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.