Colonial Trust Advisors Has $4.35 Million Stake in Truist Financial Corporation $TFC

Key Points

• Colonial Trust Advisors increased its stake in Truist Financial Corporation by 8.1%, now holding 105,654 shares worth approximately $4.35 million.
• Victory Capital Management raised its stake in Truist Financial by a remarkable 922.9%, now owning over 6.6 million shares valued at around $274 million.
• Analysts currently have a consensus rating of "Moderate Buy" for Truist Financial, with the average target price set at $48.65.

Colonial Trust Advisors grew its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,654 shares of the insurance provider's stock after purchasing an additional 7,887 shares during the quarter. Colonial Trust Advisors' holdings in Truist Financial were worth $4,348,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in Truist Financial by 922.9% in the 1st quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider's stock worth $274,237,000 after buying an additional 6,012,817 shares during the period. Invesco Ltd. grew its stake in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the last quarter. Nuveen LLC bought a new position in Truist Financial during the first quarter worth $117,929,000. Northern Trust Corp raised its stake in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Truist Financial by 610.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider's stock valued at $109,537,000 after purchasing an additional 2,287,410 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on TFC shares. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and raised their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods downgraded 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. Stephens cut their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Piper Sandler decreased their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and a consensus target price of $48.65.

Insider Buying and Selling

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Truist Financial Price Performance

NYSE:TFC opened at $44.37 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The firm has a market cap of $57.21 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company's 50-day moving average price is $43.39 and its two-hundred day moving average price is $41.81.

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). The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The firm's revenue was down 406.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. Truist Financial's dividend payout ratio is currently 56.68%.

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.

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