JT Stratford LLC Has $1.53 Million Stock Holdings in Truist Financial Corporation $TFC

Key Points

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JT Stratford LLC lessened its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 44.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,157 shares of the insurance provider's stock after selling 29,173 shares during the quarter. JT Stratford LLC's holdings in Truist Financial were worth $1,529,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TFC. Navigoe LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $26,000. Centennial Bank AR increased its stake in 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 buying an additional 580 shares during the period. Motco increased its stake in 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 buying an additional 649 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after purchasing an additional 468 shares during the period. Finally, Sierra Ocean LLC grew its stake in shares of 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 purchasing an additional 352 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Insider Activity at Truist Financial

In related 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 completion of the sale, the insider directly owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TFC. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $47.00 price target on shares of Truist Financial in a research note on Thursday. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Tuesday, July 8th. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. TD Cowen began coverage on shares of Truist Financial in a research note on Thursday, May 15th. They set a "hold" rating and a $44.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a research note on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.47.

Truist Financial Stock Up 4.1%

NYSE:TFC traded up $1.8180 during trading hours on Friday, hitting $45.8880. The stock had a trading volume of 6,668,983 shares, compared to its average volume of 6,212,761. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. 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 $59.17 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.64 and a beta of 0.87. The business has a 50 day simple moving average of $43.76 and a two-hundred day simple moving average of $41.81.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 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 return on equity of 8.69% and a net margin of 16.82%.The business's revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. Analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 8th. Truist Financial's payout ratio is 56.68%.

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.