Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $14.64 Million Position in Truist Financial Corporation $TFC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 297,560 shares of the insurance provider’s stock after selling 12,080 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Truist Financial were worth $14,643,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Holderness Investments Co. raised its position in shares of Truist Financial by 3.1% during the fourth quarter. Holderness Investments Co. now owns 59,110 shares of the insurance provider’s stock valued at $2,909,000 after buying an additional 1,789 shares during the last quarter. Norges Bank acquired a new position in Truist Financial in the fourth quarter worth about $502,340,000. Cornerstone Select Advisors LLC raised its position in Truist Financial by 2.1% in the fourth quarter. Cornerstone Select Advisors LLC now owns 24,893 shares of the insurance provider’s stock worth $1,225,000 after purchasing an additional 510 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Truist Financial in the fourth quarter worth about $26,087,000. Finally, Hillsdale Investment Management Inc. raised its position in Truist Financial by 165.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 4,010 shares of the insurance provider’s stock worth $197,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore reissued an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Royal Bank Of Canada increased their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. dropped their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Stock Performance

NYSE:TFC opened at $48.12 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $59.96 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89. Truist Financial Corporation has a 12-month low of $38.67 and a 12-month high of $56.19. The firm has a 50-day moving average price of $48.28 and a 200 day moving average price of $48.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

About Truist Financial

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.