74,250 Shares in Truist Financial Corporation $TFC Acquired by EJF Capital LLC

Key Points

• EJF Capital LLC has acquired a new stake in Truist Financial Corporation, purchasing 74,250 shares valued at approximately $3,055,000, making it the firm's 22nd largest holding.
• Institutional investors hold 71.28% of Truist Financial's stock, with several firms significantly increasing their positions during the first quarter, including Victory Capital Management, which boosted its stake by 922.9%.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, representing an annualized payout of $2.08 and a yield of 4.5% based on the recent stock price.

EJF Capital LLC bought a new position in Truist Financial Corporation (NYSE:TFC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 74,250 shares of the insurance provider's stock, valued at approximately $3,055,000. Truist Financial comprises approximately 1.9% of EJF Capital LLC's portfolio, making the stock its 22nd largest position.

Other large investors have also recently bought and sold shares of the company. Code Waechter LLC bought a new position in Truist Financial in the first quarter worth about $365,000. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Truist Financial by 4.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock valued at $17,927,000 after purchasing an additional 19,286 shares during the period. Pinnacle Financial Partners Inc increased its stake in shares of Truist Financial by 55.1% in the first quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider's stock valued at $5,530,000 after purchasing an additional 47,717 shares during the period. Credit Agricole S A increased its stake in shares of Truist Financial by 76.4% in the first quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider's stock valued at $20,591,000 after purchasing an additional 216,672 shares during the period. Finally, Adapt Wealth Advisors LLC increased its stake in shares of Truist Financial by 78.9% in the first quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider's stock valued at $842,000 after purchasing an additional 9,021 shares during the period. Institutional investors own 71.28% of the company's stock.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the firm'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 value of $566,682.60. Following the completion of the transaction, the insider 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

Truist Financial Price Performance

Truist Financial stock traded down $0.52 during mid-day trading on Monday, hitting $46.00. The company's stock had a trading volume of 6,046,217 shares, compared to its average volume of 8,435,436. 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 stock has a market capitalization of $59.31 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.73 and a beta of 0.88. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The stock's fifty day moving average price is $44.94 and its two-hundred day moving average price is $41.70.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (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 company's quarterly revenue was down 406.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. Research analysts forecast 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 was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.5%. Truist Financial's payout ratio is 56.68%.

Analyst Ratings Changes

Several brokerages have commented on TFC. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Tuesday, July 8th. TD Cowen began coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target on the stock. Keefe, Bruyette & Woods lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.47.

About Truist Financial

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.