12,626 Shares in Truist Financial Corporation $TFC Bought by Hilltop National Bank

Key Points

• Hilltop National Bank acquired a new position in Truist Financial Corporation by purchasing 12,626 shares valued at approximately $543,000 in the second quarter.
• Analysts have raised their price targets for Truist Financial, with Citigroup increasing its target from $44.00 to $55.00, and Morgan Stanley raising its target from $48.00 to $54.00.
• Truist Financial declared a quarterly dividend of $0.52 per share, reflecting an annualized yield of 4.6% with a payout ratio of 56.68%.

Hilltop National Bank purchased a new position in Truist Financial Corporation (NYSE:TFC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,626 shares of the insurance provider's stock, valued at approximately $543,000.

A number of other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Truist Financial by 4.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 163,325 shares of the insurance provider's stock worth $7,021,000 after buying an additional 7,224 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Truist Financial by 52.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 24,674 shares of the insurance provider's stock valued at $1,061,000 after purchasing an additional 8,456 shares during the period. Lecap Asset Management Ltd. boosted its stake in shares of Truist Financial by 30.2% during the second quarter. Lecap Asset Management Ltd. now owns 10,958 shares of the insurance provider's stock valued at $471,000 after purchasing an additional 2,542 shares during the period. ASR Vermogensbeheer N.V. boosted its stake in shares of Truist Financial by 4.8% during the second quarter. ASR Vermogensbeheer N.V. now owns 106,783 shares of the insurance provider's stock valued at $4,590,000 after purchasing an additional 4,901 shares during the period. Finally, Naples Global Advisors LLC boosted its stake in shares of Truist Financial by 14.2% during the second quarter. Naples Global Advisors LLC now owns 16,471 shares of the insurance provider's stock valued at $708,000 after purchasing an additional 2,051 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TFC has been the subject of a number of recent analyst reports. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their target price for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Morgan Stanley boosted their target price on shares of Truist Financial from $48.00 to $54.00 and gave the company an "equal weight" rating in a research note on Monday. Evercore ISI boosted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an "in-line" rating in a research note on Tuesday. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.89.

Truist Financial Stock Performance

TFC stock opened at $45.53 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average price of $45.15 and a 200 day moving average price of $42.07. The company has a market capitalization of $58.71 billion, a P/E ratio of 12.41, a PEG ratio of 1.45 and a beta of 0.88. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business's revenue was down 406.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, equities research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. Truist Financial's payout ratio is currently 56.68%.

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company's stock.

About Truist Financial

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.

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