Renaissance Technologies LLC Has $11.41 Million Holdings in Truist Financial Co. (NYSE:TFC)

Renaissance Technologies LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 163.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 263,017 shares of the insurance provider's stock after acquiring an additional 163,300 shares during the quarter. Renaissance Technologies LLC's holdings in Truist Financial were worth $11,410,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the 4th quarter valued at about $45,000. City State Bank lifted its position in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after acquiring an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Truist Financial during the fourth quarter worth approximately $55,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Down 2.0 %

Shares of TFC traded down $0.72 during trading hours on Monday, hitting $35.18. 564,722 shares of the stock were exchanged, compared to its average volume of 8,131,044. The firm has a market capitalization of $45.92 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. 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 Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The business has a 50-day moving average of $41.21 and a 200-day moving average of $43.81.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the prior year, the company earned $0.90 EPS. On average, research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Friday, February 14th. Truist Financial's payout ratio is 61.36%.

Analyst Ratings Changes

Several research firms recently issued reports on TFC. Barclays boosted their price target on Truist Financial from $47.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. HSBC upgraded shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. StockNews.com upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Morgan Stanley decreased their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $49.67.

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.