Truist Financial Corporation $TFC Holdings Raised by Inspire Trust Co. N.A.

Key Points

• Inspire Trust Co. N.A. increased its holdings in Truist Financial Corporation by 9.8%, acquiring an additional 8,000 shares to total 90,000 shares valued at approximately $3.7 million.
• Various institutional investors are raising their stakes in Truist Financial, with Caisse DE Depot ET Placement DU Quebec significantly increasing its holdings by 81.7% during the fourth quarter.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, representing a 4.6% dividend yield for investors of record on August 8th.

Inspire Trust Co. N.A. grew its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 9.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,000 shares of the insurance provider's stock after acquiring an additional 8,000 shares during the quarter. Inspire Trust Co. N.A.'s holdings in Truist Financial were worth $3,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in TFC. Navigoe LLC bought a new stake in shares of Truist Financial in the 4th quarter valued at approximately $26,000. Centennial Bank AR increased its holdings in shares of Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 580 shares during the last quarter. Motco increased its holdings in shares of Truist Financial by 435.6% in the 1st 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. increased its holdings in shares of Truist Financial by 115.3% in the 1st 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 increased its holdings in shares of Truist Financial by 64.4% in the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 352 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.1850 on Tuesday, hitting $44.1450. The company's stock had a trading volume of 2,356,824 shares, compared to its average volume of 8,510,700. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market capitalization of $56.92 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87. The stock's 50-day moving average is $43.39 and its two-hundred day moving average is $41.81. 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 released 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 the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The company's revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. On average, equities research analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently commented on TFC shares. Raymond James Financial upgraded 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. Piper Sandler lowered their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays lowered their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, Argus set a $43.00 price objective on Truist Financial in a research note on Monday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and an average price target of $48.65.

Insider Buying and Selling at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction 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 owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.

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.