AA Financial Advisors LLC Buys New Position in Truist Financial Corporation $TFC

Key Points

• AA Financial Advisors LLC invested approximately $371,000 in Truist Financial Corporation, acquiring 8,625 shares in the second quarter.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, resulting in an annualized yield of 4.5%.
• Despite a revenue report matching analysts' expectations at $5.04 billion, the company's earnings per share for the quarter missed estimates by $0.02.

AA Financial Advisors LLC purchased a new stake in Truist Financial Corporation (NYSE:TFC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,625 shares of the insurance provider's stock, valued at approximately $371,000.

Other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in Truist Financial in the first quarter valued at approximately $25,000. Centennial Bank AR lifted its stake in Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after buying an additional 580 shares in the last quarter. Motco lifted its stake in Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after buying an additional 649 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after buying an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC lifted its position in shares of Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.06 during mid-day trading on Tuesday, reaching $45.45. 3,604,430 shares of the company's stock were exchanged, compared to its average volume of 8,457,810. The firm has a market capitalization of $58.60 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88. Truist Financial Corporation has a 52 week low of $33.56 and a 52 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 has a 50-day moving average price of $45.01 and a two-hundred day moving average price of $41.76.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company's revenue was down 406.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

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

Insider Transactions at Truist Financial

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TFC. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Keefe, Bruyette & Woods lowered 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 report on Wednesday, July 9th. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.47.

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.