Zurcher Kantonalbank Zurich Cantonalbank Has $8.67 Million Position in Truist Financial Co. (NYSE:TFC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 54.3% during the fourth quarter, Holdings Channel reports. The fund owned 234,778 shares of the insurance provider’s stock after selling 279,073 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Truist Financial were worth $8,668,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC lifted its position in shares of Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after acquiring an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after purchasing an additional 117,524 shares in the last quarter. International Assets Investment Management LLC increased its stake in Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in Truist Financial by 6.3% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock valued at $44,189,000 after purchasing an additional 91,579 shares in the last quarter. Finally, Loudon Investment Management LLC increased its stake in Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after purchasing an additional 20,490 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TFC shares. Piper Sandler boosted their price target on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. UBS Group boosted their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Jefferies Financial Group upped their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $41.47.

Truist Financial Stock Performance

TFC opened at $36.80 on Friday. The firm has a 50-day moving average of $36.64 and a 200 day moving average of $34.49. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the firm earned $1.30 earnings per share. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

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.