Bokf Na Decreases Holdings in Truist Financial Corporation $TFC

Bokf Na lessened its stake in shares of Truist Financial Corporation (NYSE:TFC) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 336,358 shares of the insurance provider’s stock after selling 17,267 shares during the quarter. Bokf Na’s holdings in Truist Financial were worth $16,552,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Truist Financial by 0.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 212,691 shares of the insurance provider’s stock worth $10,467,000 after purchasing an additional 1,494 shares in the last quarter. RNC Capital Management LLC purchased a new position in shares of Truist Financial in the fourth quarter worth about $214,000. Principal Financial Group Inc. increased its stake in shares of Truist Financial by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,410,891 shares of the insurance provider’s stock worth $69,430,000 after purchasing an additional 32,865 shares in the last quarter. Cerro Pacific Wealth Advisors LLC increased its stake in shares of Truist Financial by 3.2% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 15,609 shares of the insurance provider’s stock worth $768,000 after purchasing an additional 482 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co increased its stake in shares of Truist Financial by 10.0% in the fourth quarter. Varma Mutual Pension Insurance Co now owns 324,580 shares of the insurance provider’s stock worth $15,973,000 after purchasing an additional 29,500 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. TD Cowen lifted their target price on shares of Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Argus lifted their target price on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. reduced their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Morgan Stanley reduced their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Price Performance

TFC stock opened at $49.96 on Wednesday. The firm has a 50 day moving average of $48.05 and a 200-day moving average of $48.36. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12 month low of $38.27 and a 12 month high of $56.19. The firm has a market capitalization of $62.00 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.85 and a beta of 0.92.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the business earned $0.87 earnings per share. Truist Financial’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s payout ratio is presently 51.61%.

Truist Financial 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.