MBB Public Markets I LLC Makes New Investment in Truist Financial Corporation $TFC

Key Points

• MBB Public Markets I LLC made a new investment in Truist Financial Corporation, purchasing 7,688 shares valued at approximately $316,000.
• Truist Financial's average analyst rating has improved, with two analysts rating it as a Strong Buy and several others issuing Buy and Hold ratings, leading to a consensus target price of $48.47.
• The company recently declared a quarterly dividend of $0.52, representing an annualized dividend yield of 4.6%.

MBB Public Markets I LLC purchased a new position in Truist Financial Corporation (NYSE:TFC - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,688 shares of the insurance provider's stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ascent Group LLC raised its position in Truist Financial by 7.0% in the first quarter. Ascent Group LLC now owns 22,012 shares of the insurance provider's stock worth $906,000 after acquiring an additional 1,434 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Truist Financial by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 347,187 shares of the insurance provider's stock worth $14,199,000 after purchasing an additional 12,374 shares in the last quarter. Caxton Associates LLP purchased a new position in Truist Financial in the 1st quarter worth about $1,171,000. First Dallas Securities Inc. increased its stake in Truist Financial by 53.1% in the 1st quarter. First Dallas Securities Inc. now owns 7,961 shares of the insurance provider's stock worth $328,000 after purchasing an additional 2,761 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its stake in Truist Financial by 8.0% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 6,155 shares of the insurance provider's stock worth $253,000 after purchasing an additional 458 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD Cowen assumed coverage on Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target on the stock. Raymond James Financial raised 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. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. 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's stock. Based on data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $48.47.

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 owned 500 shares of the company's stock, valued at approximately $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company's stock.

Truist Financial Trading Down 1.6%

NYSE:TFC opened at $45.29 on Wednesday. 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 Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock's 50-day moving average is $45.02 and its two-hundred day moving average is $41.72. The stock has a market cap of $58.40 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results 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). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same period last year, the firm earned $0.91 EPS. The company's revenue was down 406.0% compared to the same quarter last year. As a group, equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. 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.

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