International Assets Investment Management LLC Boosts Holdings in Truist Financial Co. (NYSE:TFC)

International Assets Investment Management LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 61.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,696 shares of the insurance provider’s stock after buying an additional 17,376 shares during the quarter. International Assets Investment Management LLC’s holdings in Truist Financial were worth $1,753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of TFC. Norges Bank purchased a new position in Truist Financial during the fourth quarter worth $307,787,000. Parnassus Investments LLC bought a new stake in shares of Truist Financial during the fourth quarter worth $95,049,000. North Reef Capital Management LP bought a new stake in shares of Truist Financial during the third quarter worth $66,804,000. Azora Capital LP bought a new stake in shares of Truist Financial during the fourth quarter worth $72,498,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. UBS Group lifted their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. HSBC lifted their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Wells Fargo & Company lifted their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Finally, Citigroup lifted their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Trading Up 0.4 %

Shares of NYSE TFC opened at $36.79 on Monday. The business’s 50 day moving average price is $37.74 and its 200 day moving average price is $37.05. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts predict that Truist Financial Co. will post 3.36 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date was Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Truist Financial 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.