Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases 10,782 Shares of Truist Financial Corporation $TFC

Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 87.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,148 shares of the insurance provider’s stock after acquiring an additional 10,782 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Truist Financial were worth $1,064,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Brighton Jones LLC raised its position in shares of Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares in the last quarter. Woodline Partners LP boosted its stake in Truist Financial by 39.5% during the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares during the period. Sivia Capital Partners LLC purchased a new position in Truist Financial during the second quarter worth about $575,000. AXA S.A. grew its position in Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after buying an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in Truist Financial by 20.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after acquiring an additional 1,134 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $50.95 on Friday. The firm has a market cap of $63.47 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.87 and a beta of 0.89. The firm’s fifty day moving average is $49.17 and its 200 day moving average is $49.40. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. 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 (NYSE:TFC) last posted its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current 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 4.1%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $54.00 in a report on Tuesday, June 30th. Morgan Stanley cut their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. JPMorgan Chase & Co. decreased their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.26.

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.