Truist Financial Co. (NYSE:TFC) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its holdings in Truist Financial Co. (NYSE:TFC) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 457,320 shares of the insurance provider’s stock after purchasing an additional 38,604 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Truist Financial were worth $19,839,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFC. Fisher Asset Management LLC lifted its stake in Truist Financial by 4.5% in the third quarter. Fisher Asset Management LLC now owns 7,995 shares of the insurance provider’s stock valued at $342,000 after buying an additional 345 shares during the last quarter. FMR LLC raised its position in Truist Financial by 10.6% in the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after purchasing an additional 478,886 shares during the last quarter. Townsquare Capital LLC boosted its stake in Truist Financial by 9.1% during the 3rd quarter. Townsquare Capital LLC now owns 91,017 shares of the insurance provider’s stock worth $3,893,000 after purchasing an additional 7,618 shares during the period. CreativeOne Wealth LLC increased its stake in Truist Financial by 81.0% in the third quarter. CreativeOne Wealth LLC now owns 13,832 shares of the insurance provider’s stock valued at $592,000 after purchasing an additional 6,190 shares during the period. Finally, Fiduciary Trust Co raised its holdings in shares of Truist Financial by 16.9% in the third quarter. Fiduciary Trust Co now owns 8,988 shares of the insurance provider’s stock valued at $384,000 after buying an additional 1,300 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE TFC opened at $40.46 on Friday. The business has a 50 day moving average price of $44.78 and a 200 day moving average price of $44.42. The company has a market capitalization of $52.81 billion, a P/E ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. 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 announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 earnings per share. Sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio is presently 62.46%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TFC shares. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.68.

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.