Truist Financial Corporation $TFC Shares Bought by Norinchukin Bank The

Key Points

• Norinchukin Bank The increased its stake in Truist Financial Corporation by 14.9%, owning 70,113 shares valued at approximately $2.89 million as of the end of the most recent quarter.
• Several institutional investors, including Caisse DE Depot ET Placement DU Quebec, raised their stakes significantly in Truist Financial, reflecting growing interest in the company.
• Truist Financial reported earnings of $0.91 EPS for the last quarter, missing analysts' expectations, and announced a quarterly dividend of $0.52 per share with a yield of 4.5%.

Norinchukin Bank The lifted its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,113 shares of the insurance provider's stock after purchasing an additional 9,105 shares during the quarter. Norinchukin Bank The's holdings in Truist Financial were worth $2,885,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TFC. Navigoe LLC purchased a new position in shares of Truist Financial in the fourth quarter worth about $26,000. Centennial Bank AR raised its stake in shares of Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock worth $30,000 after purchasing an additional 580 shares during the last quarter. Motco grew its holdings in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider's stock worth $33,000 after acquiring an additional 649 shares during the period. Meeder Asset Management Inc. grew its holdings in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after acquiring an additional 468 shares during the period. Finally, Sierra Ocean LLC grew its holdings in Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after acquiring an additional 352 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial 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 sale, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Truist Financial Price Performance

TFC traded up $0.47 during trading on Wednesday, hitting $46.83. The company's stock had a trading volume of 8,523,998 shares, compared to its average volume of 8,473,626. 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 business's fifty day simple moving average is $44.04 and its 200 day simple moving average is $41.75. The firm has a market capitalization of $60.38 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.70 and a beta of 0.87. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The business's revenue was down 406.0% on a year-over-year basis. On average, equities research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

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 given a $0.52 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. Truist Financial's payout ratio is currently 56.68%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TFC shares. Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Morgan Stanley reaffirmed a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods lowered Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a report on Wednesday, July 9th. Two research 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 stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and a consensus price target of $48.47.

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.