Danske Bank A S Invests $33.83 Million in Truist Financial Corporation $TFC

Danske Bank A S purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 739,866 shares of the insurance provider’s stock, valued at approximately $33,827,000. Danske Bank A S owned about 0.06% of Truist Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Truist Financial by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after acquiring an additional 1,529,478 shares in the last quarter. Capital International Investors lifted its position in Truist Financial by 0.3% during the third quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock valued at $4,921,717,000 after acquiring an additional 346,423 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Truist Financial by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock valued at $755,185,000 after acquiring an additional 164,034 shares in the last quarter. Invesco Ltd. grew its holdings in Truist Financial by 6.5% in the second quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after purchasing an additional 854,826 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Truist Financial by 6.6% in the second quarter. American Century Companies Inc. now owns 12,834,800 shares of the insurance provider’s stock worth $551,768,000 after purchasing an additional 793,276 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the subject of several analyst reports. Weiss Ratings lowered Truist Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 12th. Raymond James Financial boosted their target price on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Morgan Stanley raised Truist Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $56.00 to $69.00 in a research report on Tuesday, February 17th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price target for the company in a research note on Monday, March 9th. Finally, Keefe, Bruyette & Woods raised their price target on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.47.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the sale, the chief accounting officer directly owned 667 shares of the company’s stock, valued at approximately $35,010.83. This represents a 83.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer directly owned 74,323 shares in the company, valued at $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Price Performance

Shares of NYSE TFC opened at $43.88 on Thursday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $56.19. The business’s 50 day moving average price is $50.21 and its 200 day moving average price is $47.65. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The firm has a market cap of $54.46 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.76 and a beta of 0.87.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, sell-side analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. Truist Financial’s payout ratio is currently 54.59%.

Truist Financial announced that its board has approved a stock buyback program on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 15.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.