12,800 Shares in Truist Financial Corporation $TFC Acquired by Ransom Advisory Ltd

Key Points

• Ransom Advisory Ltd acquired 12,800 shares of Truist Financial Corporation, valued at approximately $527,000, during the first quarter.
• Analysts have mixed ratings for Truist Financial, with Citigroup raising its price target to $55.00, while Keefe, Bruyette & Woods downgraded it to $48.00.
• Truist Financial recently declared a quarterly dividend of $0.52 per share, resulting in an annualized yield of 4.6%.

Ransom Advisory Ltd acquired a new position in Truist Financial Corporation (NYSE:TFC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,800 shares of the insurance provider's stock, valued at approximately $527,000.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the first quarter valued at approximately $25,000. Centennial Bank AR grew its holdings in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 580 shares during the last quarter. Motco grew its holdings in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 649 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC grew its holdings in Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and increased their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective on the stock. in a research note on Wednesday, July 9th. TD Cowen initiated coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective on the stock. Wells Fargo & Company restated an "equal weight" rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and an average target price of $48.47.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Truist Financial Stock Down 1.6%

TFC opened at $45.29 on Wednesday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. 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 firm's fifty day moving average price is $45.02 and its two-hundred day moving average price is $41.72. The company has a market capitalization of $58.40 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.72 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm's quarterly revenue was down 406.0% on a year-over-year basis. On average, analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. 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%.

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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