Truist Financial Corporation $TFC Shares Acquired by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Truist Financial by 7.3% in Q1, owning 174,460 shares valued at $7.16 million.
• Analysts have mixed views on Truist, with Raymond James upgrading it to "outperform" while others lowered their price targets.
• Truist Financial reported an EPS of $0.91 in its last earnings report, missing estimates, and announced a quarterly dividend of $0.52.

Ethic Inc. lifted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 174,460 shares of the insurance provider's stock after purchasing an additional 11,857 shares during the quarter. Ethic Inc.'s holdings in Truist Financial were worth $7,156,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Comerica Bank lifted its position in Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock worth $19,499,000 after acquiring an additional 15,499 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Truist Financial by 81.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock worth $48,085,000 after acquiring an additional 498,531 shares in the last quarter. Code Waechter LLC acquired a new position in Truist Financial during the 1st quarter worth approximately $365,000. Cantor Fitzgerald Investment Advisors L.P. lifted its position in Truist Financial by 4.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock worth $17,927,000 after acquiring an additional 19,286 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Truist Financial by 2.8% during the 4th quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock worth $97,291,000 after acquiring an additional 60,848 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Up 0.7%

Shares of TFC traded up $0.2950 during trading on Wednesday, reaching $44.4750. The company's stock had a trading volume of 2,913,879 shares, compared to its average volume of 8,499,660. The company has a fifty day moving average of $43.46 and a two-hundred day moving average of $41.82. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a market cap of $57.35 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.65 and a beta of 0.87. 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 announced its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 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 period in the previous year, the company earned $0.91 earnings per share. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on TFC. TD Cowen began coverage on Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target on the stock. Keefe, Bruyette & Woods lowered Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a research report on Wednesday, July 9th. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.65.

Insider Activity

In related news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider directly owned 500 shares of the company's stock, valued at approximately $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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.