Brookwood Investment Group LLC Invests $322,000 in Truist Financial Corporation (NYSE:TFC)

Key Points

• Brookwood Investment Group LLC made a new investment of $322,000 in Truist Financial Corporation, acquiring 7,828 shares in the first quarter.
• Truist Financial reported quarterly earnings of $0.91 per share, missing earnings estimates by $0.02, with total revenue of $5.04 billion.
• The company recently declared a quarterly dividend of $0.52 per share, representing a 4.56% yield and a payout ratio of 56.68%.

Brookwood Investment Group LLC purchased a new stake in Truist Financial Corporation (NYSE:TFC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,828 shares of the insurance provider's stock, valued at approximately $322,000.

Other large investors have also modified their holdings of the company. Navigoe LLC purchased a new stake in shares of Truist Financial in the 4th quarter valued at $26,000. Centennial Bank AR raised its holdings in shares of Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after buying an additional 580 shares during the period. Sierra Ocean LLC raised its holdings in shares of Truist Financial by 64.4% in the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after buying an additional 352 shares during the period. Rossby Financial LCC purchased a new stake in shares of Truist Financial in the 1st quarter valued at $43,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of Truist Financial in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the sale, the insider directly owned 500 shares of the company's stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company's stock.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.16 during trading hours on Friday, reaching $45.64. The stock had a trading volume of 6,278,182 shares, compared to its average volume of 8,237,608. The firm has a market cap of $59.76 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.70 and a beta of 0.85. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. 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 50-day moving average of $42.08 and a 200-day moving average of $42.10.

Truist Financial (NYSE:TFC - Get Free Report) last posted 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 return on equity of 8.69% and a net margin of 16.82%. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm's revenue was down 406.0% compared to the same quarter last year. Equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.56%. Truist Financial's payout ratio is 56.68%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TFC shares. TD Cowen initiated coverage on Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective on the stock. Argus set a $43.00 price target on Truist Financial in a report on Monday, April 21st. Stephens cut their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a report on Tuesday, July 8th. Finally, Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.65.

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.