Dimensional Fund Advisors LP Buys 408,726 Shares of Truist Financial Corporation $TFC

Key Points

• Dimensional Fund Advisors LP increased its stake in Truist Financial Corporation by 5.4%, acquiring an additional 408,726 shares to bring its total holdings to approximately 8 million shares worth $330.4 million.
• Truist Financial has received mixed ratings from analysts, with a target price range from $44 to $55, and currently holds an average rating of "Moderate Buy" with a consensus target price of $48.65.
• The company announced a quarterly dividend of $0.52 per share, representing an annualized payout of $2.08, and a dividend yield of 4.7%, with a payout ratio of 56.68%.

Dimensional Fund Advisors LP lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,030,898 shares of the insurance provider's stock after purchasing an additional 408,726 shares during the quarter. Dimensional Fund Advisors LP owned 0.61% of Truist Financial worth $330,408,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Navigoe LLC bought a new position in Truist Financial during the 4th quarter worth about $26,000. Centennial Bank AR grew its stake in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after acquiring an additional 580 shares in the last quarter. Motco lifted its position 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 purchasing an additional 649 shares in the last quarter. Meeder Asset Management Inc. grew 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 valued at $36,000 after acquiring an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC raised its holdings in Truist Financial by 64.4% during 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 in the last quarter. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Tuesday, July 8th. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. 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. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.47.

Truist Financial Price Performance

NYSE:TFC traded up $1.7190 on Friday, hitting $45.7890. The company had a trading volume of 2,349,628 shares, compared to its average volume of 8,458,011. The stock has a market capitalization of $59.04 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.65 and a beta of 0.87. The firm has a 50 day moving average of $43.62 and a two-hundred day moving average of $41.82. 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 52 week low of $33.56 and a 52 week high of $49.06.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.5%. Truist Financial's payout ratio is 56.68%.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on 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 $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by company insiders.

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.