22,790 Shares in Truist Financial Corporation (NYSE:TFC) Purchased by Fiduciary Family Office LLC

Key Points

• Fiduciary Family Office LLC has acquired a new stake in Truist Financial Corporation, purchasing 22,790 shares valued at approximately $938,000 during the first quarter.
• The quarterly dividend for Truist Financial is set at $0.52 per share, providing an annual yield of 4.8%, with the payout expected on September 2nd.
• Truist Financial reported earnings of $0.91 per share for the last quarter, missing analyst expectations by $0.02, with total revenue of $5.04 billion.

Fiduciary Family Office LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,790 shares of the insurance provider's stock, valued at approximately $938,000.

A number of other large investors also recently modified their holdings of the business. Navigoe LLC acquired a new position in shares of Truist Financial in the fourth quarter valued at $26,000. Centennial Bank AR grew its holdings in shares of Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after purchasing an additional 580 shares during the last quarter. Motco boosted its holdings in Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 649 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Truist Financial by 115.3% in the first 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 during the last quarter. Finally, Sierra Ocean LLC lifted its stake in Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after buying an additional 352 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

NYSE:TFC traded down $0.24 during trading hours on Monday, hitting $42.83. 5,693,391 shares of the company's stock traded hands, compared to its average volume of 7,676,069. The business's fifty day simple moving average is $42.93 and its two-hundred day simple moving average is $41.91. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. 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 firm has a market cap of $55.22 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.61 and a beta of 0.87.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, August 8th. Truist Financial's dividend payout ratio (DPR) is presently 56.68%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TFC. Barclays cut their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Raymond James Financial upgraded Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research note on Tuesday, July 8th. Stephens lowered their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Piper Sandler cut their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.65.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the business'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 value of $566,682.60. Following the sale, the insider directly owned 500 shares of the company's stock, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

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.