Zions Bancorporation N.A. Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Zions Bancorporation N.A. lifted its holdings in Truist Financial Co. (NYSE:TFC) by 9.9% in the fourth quarter, HoldingsChannel reports. The firm owned 156,174 shares of the insurance provider’s stock after purchasing an additional 14,005 shares during the quarter. Zions Bancorporation N.A.’s holdings in Truist Financial were worth $6,775,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TFC. State Street Corp grew its stake in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC grew its position in Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after acquiring an additional 456,412 shares in the last quarter. Amundi increased its stake in Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares during the last quarter. American Century Companies Inc. raised its position in Truist Financial by 7.9% during the fourth quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock valued at $428,720,000 after purchasing an additional 722,749 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Truist Financial by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after purchasing an additional 288,306 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TFC. The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Stephens increased their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler raised their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Stock Up 1.8 %

Shares of Truist Financial stock opened at $42.17 on Tuesday. The firm’s 50-day moving average is $45.10 and its two-hundred day moving average is $44.45. Truist Financial Co. has a 1 year low of $35.09 and a 1 year high of $49.06. The stock has a market cap of $55.04 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the business posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.93%. Truist Financial’s payout ratio is 62.46%.

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.