GW Henssler & Associates Ltd. Purchases 145,049 Shares of Truist Financial Corporation $TFC

Key Points

• GW Henssler & Associates Ltd. increased its stake in Truist Financial Corporation by 28.9%, acquiring an additional 145,049 shares during the 1st quarter, bringing their total holdings to 646,615 shares worth approximately $26.6 million.
• Several institutional investors also significantly increased their positions in Truist Financial during the 1st quarter, with Victory Capital Management growing its stake by 922.9%, resulting in ownership of over 6.6 million shares.
• Truist Financial announced a quarterly dividend of $0.52, with a stated dividend yield of 4.4%, and has an average analyst rating of "Moderate Buy" with a consensus target price of $48.47.

GW Henssler & Associates Ltd. raised its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 28.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 646,615 shares of the insurance provider's stock after purchasing an additional 145,049 shares during the quarter. Truist Financial accounts for approximately 1.5% of GW Henssler & Associates Ltd.'s holdings, making the stock its 21st biggest position. GW Henssler & Associates Ltd.'s holdings in Truist Financial were worth $26,608,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC grew its stake in shares of Truist Financial by 37.4% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 26,202 shares of the insurance provider's stock valued at $1,078,000 after purchasing an additional 7,138 shares during the period. MAI Capital Management grew its stake in shares of Truist Financial by 8.3% during the 1st quarter. MAI Capital Management now owns 14,791 shares of the insurance provider's stock valued at $609,000 after acquiring an additional 1,133 shares during the period. Quarry LP bought a new position in shares of Truist Financial during the 1st quarter valued at approximately $116,000. Calton & Associates Inc. grew its stake in shares of Truist Financial by 13.9% during the 1st quarter. Calton & Associates Inc. now owns 6,573 shares of the insurance provider's stock valued at $270,000 after acquiring an additional 802 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of Truist Financial by 3.6% during the 1st quarter. Baird Financial Group Inc. now owns 331,468 shares of the insurance provider's stock valued at $13,640,000 after acquiring an additional 11,572 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TFC. Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Keefe, Bruyette & Woods downgraded Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective for the company. in a research note on Wednesday, July 9th. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company reiterated an "equal weight" rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research note on Tuesday, July 8th. Two equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $48.47.

Insider Transactions at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the firm'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 completion of the sale, the insider directly owned 500 shares of the company's stock, valued at $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Truist Financial Price Performance

Shares of TFC traded up $0.68 during mid-day trading on Thursday, hitting $47.09. 5,382,219 shares of the stock were exchanged, compared to its average volume of 8,451,689. The company has a market cap of $60.71 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.75 and a beta of 0.88. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The firm has a 50-day moving average of $44.77 and a two-hundred day moving average of $41.78. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's payout ratio is presently 56.68%.

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.