Aster Capital Management DIFC Ltd Buys New Stake in Truist Financial Corporation $TFC

Aster Capital Management DIFC Ltd bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the 4th quarter, Holdings Channel.com reports. The firm bought 26,331 shares of the insurance provider’s stock, valued at approximately $1,296,000. Truist Financial comprises approximately 0.6% of Aster Capital Management DIFC Ltd’s holdings, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Swiss RE Ltd. acquired a new position in Truist Financial in the 4th quarter worth $26,000. McMillan Office Inc. acquired a new position in Truist Financial in the 4th quarter worth $31,000. Maseco LLP lifted its holdings in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Royal Bank Of Canada boosted their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Stephens initiated coverage on shares of Truist Financial in a report on Monday. They issued an “overweight” rating and a $59.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.79.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $48.39 on Tuesday. The firm has a market cap of $60.29 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89. The firm’s 50-day simple moving average is $49.12 and its 200-day simple moving average is $49.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 1 year low of $38.88 and a 1 year high of $56.19.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 EPS. Equities analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio is 51.61%.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.