Ossiam Acquires 80,171 Shares of Truist Financial Co. (NYSE:TFC)

Ossiam raised its position in Truist Financial Co. (NYSE:TFC - Free Report) by 179.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,962 shares of the insurance provider's stock after buying an additional 80,171 shares during the period. Ossiam's holdings in Truist Financial were worth $5,421,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TFC. Bangor Savings Bank grew its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after acquiring an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $26,000. Curio Wealth LLC bought a new position in Truist Financial in the 4th quarter worth approximately $45,000. City State Bank boosted its position in Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after buying an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in Truist Financial during the 4th quarter worth about $55,000. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research note on Sunday. Stephens decreased their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday. Citigroup cut their target price on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Stock Up 1.9 %

Truist Financial stock traded up $0.72 during mid-day trading on Thursday, reaching $37.86. The company's stock had a trading volume of 8,134,864 shares, compared to its average volume of 8,139,458. The business's 50 day simple moving average is $40.59 and its 200 day simple moving average is $43.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market capitalization of $49.42 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period last year, the company earned $0.90 earnings per share. As a group, research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

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.