Court Place Advisors LLC Buys Shares of 5,822 Truist Financial Corporation $TFC

Key Points

• Court Place Advisors LLC has acquired a new stake in Truist Financial, purchasing 5,822 shares valued at approximately $250,000 in Q2.
• Insider Bradley D. Bender sold 12,540 shares at an average price of $45.19, significantly decreasing their ownership stake.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, equating to an annualized yield of 4.7%.

Court Place Advisors LLC bought a new stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,822 shares of the insurance provider's stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the 1st quarter valued at about $25,000. Centennial Bank AR boosted its stake in Truist Financial by 360.2% during the 1st 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 period. Motco boosted its stake in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. raised its position in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after buying an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC raised its position in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after buying an additional 352 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company restated an "equal weight" rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley boosted their price target on shares of Truist Financial from $48.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Evercore ISI boosted their price target 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. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Truist Financial in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of "Moderate Buy" and a consensus price target of $48.89.

Truist Financial Stock Up 0.2%

TFC stock opened at $44.22 on Friday. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company's 50 day simple moving average is $45.17 and its 200-day simple moving average is $42.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $57.02 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.42 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 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 company had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business's revenue for the quarter 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 disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. Truist Financial's payout ratio is presently 56.68%.

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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