Landscape Capital Management L.L.C. Makes New Investment in Truist Financial Corporation $TFC

Key Points

• Landscape Capital Management L.L.C. has initiated a position in Truist Financial Corporation, acquiring 12,448 shares valued at approximately $512,000 as reported in their recent 13F filing.
• Truist Financial reported quarterly earnings of $0.91 per share, which missed the consensus estimate by $0.02, and its revenue was down 406.0% compared to the same quarter last year.
• The company has announced a quarterly dividend of $0.52 per share, representing a yield of 4.4%, with an ex-dividend date set for August 8th.

Landscape Capital Management L.L.C. purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,448 shares of the insurance provider's stock, valued at approximately $512,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Klingman & Associates LLC lifted its stake in Truist Financial by 2.2% in the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider's stock valued at $484,000 after buying an additional 248 shares during the period. Haverford Trust Co raised its position in shares of Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider's stock worth $319,000 after purchasing an additional 262 shares during the period. Manchester Capital Management LLC raised its position in shares of Truist Financial by 8.0% during the first quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider's stock worth $160,000 after purchasing an additional 288 shares during the period. Ballast Inc. raised its position in shares of Truist Financial by 0.7% during the first quarter. Ballast Inc. now owns 39,348 shares of the insurance provider's stock worth $1,619,000 after purchasing an additional 290 shares during the period. Finally, Integrated Advisors Network LLC raised its position in shares of Truist Financial by 4.8% during the fourth quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider's stock worth $274,000 after purchasing an additional 291 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TFC shares. TD Cowen started coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective for the company. Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. 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. Finally, Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and raised their price target for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.47.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares in the company, valued at $22,595. This represents 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 hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

TFC traded up $0.50 during trading on Thursday, hitting $46.91. The stock had a trading volume of 2,356,718 shares, compared to its average volume of 8,432,795. The company has a 50 day moving average price of $44.77 and a 200-day moving average price of $41.78. The firm has a market cap of $60.49 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.75 and a beta of 0.88. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86.

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

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, August 8th. Truist Financial's dividend payout ratio (DPR) is presently 56.68%.

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.