Lbp Am Sa Invests $10.84 Million in Truist Financial Corporation $TFC

Key Points

• LBP AM SA bought a new stake of 220,195 shares of Truist Financial (NYSE:TFC) in the fourth quarter, valued at about $10.84 million.
• Analysts are mixed but the consensus rating is a Moderate Buy with a consensus price target of $54.41, ranging from outperform to underperform across firms.
• Corporate insiders recently sold stock (CAO sold 3,500 shares; CFO sold 13,000 shares), while Truist pays a quarterly dividend that annualizes to $2.08, a yield of about 4.2%.

Lbp Am Sa purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 220,195 shares of the insurance provider's stock, valued at approximately $10,836,000.

A number of other institutional investors also recently bought and sold shares of TFC. Brighton Jones LLC lifted its holdings in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after buying an additional 14,093 shares during the period. Woodline Partners LP grew its holdings in shares of Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider's stock worth $4,575,000 after acquiring an additional 31,454 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Truist Financial in the 2nd quarter worth approximately $575,000. AXA S.A. raised its position in shares of Truist Financial by 23.1% in the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider's stock worth $1,126,000 after acquiring an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in shares of Truist Financial by 20.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider's stock valued at $292,000 after purchasing an additional 1,134 shares during the period. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TFC. Weiss Ratings lowered Truist Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 12th. Raymond James Financial raised their price objective on Truist Financial from $50.00 to $56.00 and gave the company an "outperform" rating in a research report on Wednesday, January 7th. Robert W. Baird upgraded shares of Truist Financial from a "neutral" rating to an "outperform" rating and set a $52.00 target price on the stock in a report on Monday, March 9th. Jefferies Financial Group assumed coverage on shares of Truist Financial in a research note on Thursday, March 26th. They issued an "underperform" rating and a $35.00 price target for the company. Finally, Barclays cut shares of Truist Financial from an "equal weight" rating to an "underweight" rating and lifted their price target for the company from $47.00 to $56.00 in a research report on Monday, January 5th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.41.

Insider Activity

In related news, CAO Cynthia B. Powell sold 3,500 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $52.49, for a total transaction of $183,715.00. Following the sale, the chief accounting officer directly owned 667 shares of the company's stock, valued at approximately $35,010.83. This represents a 83.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the firm's stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares of the company's stock, valued at approximately $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.15% of the company's stock.

Truist Financial Stock Down 0.3%

TFC stock opened at $49.45 on Friday. The business has a 50 day moving average of $48.54 and a 200 day moving average of $47.82. The firm has a market cap of $61.37 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. Truist Financial Corporation has a twelve month low of $35.00 and a twelve month high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the firm posted $0.91 earnings per share. The company's revenue was up 3.6% compared to the same quarter last year. On average, research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.52 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial's payout ratio is presently 54.59%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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