Eisler Capital Management Ltd. Purchases 430,829 Shares of Truist Financial Corporation $TFC

Key Points

• Eisler Capital Management Ltd. significantly increased its stake in Truist Financial by acquiring an additional 430,829 shares, raising its total ownership to 437,500 shares, valued at $18 million.
• Truist Financial's quarterly earnings report showed earnings per share of $0.91, falling short of analysts' expectations, even as the company generated $5.04 billion in revenue.
• The company declared a quarterly dividend of $0.52 per share, offering a 4.5% yield, with a payout ratio currently at 56.68%.

Eisler Capital Management Ltd. lifted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 6,458.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 437,500 shares of the insurance provider's stock after acquiring an additional 430,829 shares during the period. Truist Financial makes up about 0.1% of Eisler Capital Management Ltd.'s portfolio, making the stock its 25th largest holding. Eisler Capital Management Ltd.'s holdings in Truist Financial were worth $18,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TFC. Wealth Preservation Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $25,000. Navigoe LLC bought a new stake in shares of Truist Financial during the 4th quarter worth approximately $26,000. Centennial Bank AR lifted its holdings 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 during the period. Motco lifted its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider's stock worth $33,000 after acquiring an additional 649 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings 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 acquiring an additional 468 shares during the period. Institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TFC. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Keefe, Bruyette & Woods lowered 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. TD Cowen began coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price on the stock. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.47.

Truist Financial Stock Performance

NYSE TFC opened at $46.39 on Wednesday. The company has a market capitalization of $59.81 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.70 and a beta of 0.87. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a fifty day simple moving average of $44.04 and a 200 day simple moving average of $41.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75.

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). The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business's revenue for the quarter was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. Sell-side analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

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

Insiders Place Their Bets

In related news, insider Bradley D. Bender sold 12,540 shares of the 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 in the company, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by 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.

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