Truist Financial Corporation $TFC Holdings Raised by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Truist Financial by 37.4%, purchasing an additional 7,138 shares, resulting in total holdings valued at $1,078,000 as of the last quarter.
• Truist Financial recently missed earnings expectations with an EPS of $0.91, falling short of the estimated $0.93, and reported a significant year-over-year revenue drop of 406%.
• The company announced a quarterly dividend of $0.52 per share, translating to an annualized dividend yield of 4.5% and a payout ratio of 56.68%.

Focus Partners Advisor Solutions LLC lifted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 37.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,202 shares of the insurance provider's stock after purchasing an additional 7,138 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Truist Financial were worth $1,078,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter worth $25,000. 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 grew its position 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 in the last quarter. Meeder Asset Management Inc. lifted its stake 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 buying an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC raised its holdings in Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after buying an additional 352 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Insider Buying and Selling at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction dated 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 transaction, the insider 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 document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

Truist Financial Price Performance

NYSE TFC traded down $0.57 on Monday, hitting $45.95. 3,708,247 shares of the company were exchanged, compared to its average volume of 8,420,365. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a market cap of $59.25 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.73 and a beta of 0.88. The firm has a 50 day moving average of $44.94 and a two-hundred day moving average of $41.70. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The business's revenue for the quarter was down 406.0% on a year-over-year basis. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, August 8th. Truist Financial's dividend payout ratio (DPR) is presently 56.68%.

Wall Street Analysts Forecast Growth

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

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.