Callan Family Office LLC Has $888,000 Stock Holdings in Truist Financial Corporation $TFC

Key Points

• Callan Family Office LLC increased its stake in Truist Financial Corporation by 48.3% in Q2, now holding 20,661 shares valued at $888,000.
• Truist Financial reported earnings of $0.91 per share in its latest quarterly results, missing analysts' expectations, with revenue noted at $5.04 billion.
• The company announced a quarterly dividend of $0.52, with a dividend yield of 4.9% and a payout ratio of 56.68%.

Callan Family Office LLC lifted its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 48.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,661 shares of the insurance provider's stock after acquiring an additional 6,733 shares during the quarter. Callan Family Office LLC's holdings in Truist Financial were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial in the first quarter worth $25,000. Centennial Bank AR increased its stake in shares of Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after acquiring an additional 580 shares during the last quarter. Motco increased its stake in shares of Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider's stock worth $33,000 after acquiring an additional 649 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after acquiring an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC increased its stake 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 acquiring an additional 352 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Down 4.4%

TFC stock opened at $42.32 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a 50-day moving average of $45.16 and a two-hundred day moving average of $42.17. The stock has a market capitalization of $54.57 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.35 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm's revenue was down 406.0% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Friday, August 8th. Truist Financial's dividend payout ratio (DPR) is presently 56.68%.

Insider Buying and Selling at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were 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 in the company, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Evercore ISI increased their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Raymond James Financial reissued an "outperform" rating on shares of Truist Financial in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.89.

Truist Financial 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.

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