Truist Financial Corporation $TFC Shares Acquired by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Truist Financial Corporation by 5.8%, acquiring an additional 9,878 shares, bringing its total holdings to 180,366 shares worth approximately $7.42 million.
• Insider Bradley D. Bender sold 12,540 shares of Truist Financial at an average price of $45.19, resulting in a significant decrease of 96.17% in personal stock ownership.
• Truist Financial announced a quarterly dividend of $0.52 per share, with a dividend yield of 4.4%, and a payout ratio currently at 56.68%.

B. Metzler seel. Sohn & Co. AG grew its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 5.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 180,366 shares of the insurance provider's stock after buying an additional 9,878 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Truist Financial were worth $7,422,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CreativeOne Wealth LLC boosted its stake in shares of Truist Financial by 42.2% in the 1st quarter. CreativeOne Wealth LLC now owns 10,564 shares of the insurance provider's stock valued at $435,000 after buying an additional 3,136 shares during the period. Quadcap Wealth Management LLC boosted its stake in shares of Truist Financial by 6.8% in the 1st quarter. Quadcap Wealth Management LLC now owns 29,761 shares of the insurance provider's stock valued at $1,225,000 after buying an additional 1,896 shares during the period. Harvest Portfolios Group Inc. boosted its stake in shares of Truist Financial by 8.6% in the 1st quarter. Harvest Portfolios Group Inc. now owns 146,821 shares of the insurance provider's stock valued at $6,042,000 after buying an additional 11,672 shares during the period. Freedom Investment Management Inc. boosted its stake in shares of Truist Financial by 10.2% in the 1st quarter. Freedom Investment Management Inc. now owns 16,759 shares of the insurance provider's stock valued at $690,000 after buying an additional 1,558 shares during the period. Finally, Synovus Financial Corp boosted its stake in shares of Truist Financial by 0.8% in the 1st quarter. Synovus Financial Corp now owns 444,790 shares of the insurance provider's stock valued at $18,303,000 after buying an additional 3,644 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. TD Cowen assumed coverage on Truist Financial in a research note on Thursday, May 15th. They set a "hold" rating and a $44.00 target price for the company. Raymond James Financial upgraded 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. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. 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 given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $48.47.

Truist Financial Stock Performance

NYSE TFC traded up $0.10 on Monday, reaching $46.89. The stock had a trading volume of 9,362,994 shares, compared to its average volume of 6,777,159. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The business's 50-day moving average price is $44.45 and its 200 day moving average price is $41.71. The stock has a market cap of $60.46 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data 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 net margin of 16.82% and a return on equity of 8.69%. The firm had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $5.04 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. Truist Financial's quarterly revenue was down 406.0% compared to the same quarter last year. As a group, equities analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. Truist Financial's payout ratio is currently 56.68%.

Insider Activity

In other news, insider Bradley D. Bender sold 12,540 shares of the business'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 transaction, the insider owned 500 shares of the company's stock, valued at approximately $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.