Banque Cantonale Vaudoise Makes New $965,000 Investment in Truist Financial Corporation (NYSE:TFC)

Key Points

• Banque Cantonale Vaudoise acquired a new position in Truist Financial, purchasing 23,435 shares valued at approximately $965,000 in the first quarter.
• Truist Financial reported a missed earnings estimate with earnings per share of $0.91, falling short of the consensus estimate of $0.93.
• The company announced a quarterly dividend of $0.52 per share, which represents an annual yield of 4.8%.

Banque Cantonale Vaudoise purchased a new position in Truist Financial Corporation (NYSE:TFC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,435 shares of the insurance provider's stock, valued at approximately $965,000.

A number of other institutional investors have also modified their holdings of the stock. Navigoe LLC acquired a new stake in Truist Financial during the fourth quarter worth about $26,000. Centennial Bank AR grew its holdings in shares of 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 raised its position in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider's stock worth $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after purchasing an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC boosted its position in Truist Financial by 64.4% during the 1st 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 period. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Trading Down 1.7%

Shares of Truist Financial stock traded down $0.75 on Friday, reaching $42.96. 8,454,705 shares of the company were exchanged, compared to its average volume of 7,957,169. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a market capitalization of $56.26 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average price of $42.50 and a 200-day moving average price of $42.11.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. Truist Financial's dividend payout ratio is currently 56.68%.

Insider Buying and Selling at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Keefe, Bruyette & Woods cut 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 report on Wednesday, July 9th. Argus set a $43.00 price target on shares of Truist Financial in a research note on Monday, April 21st. Piper Sandler reduced their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.65.

Truist Financial Company Profile

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.