Oak Thistle LLC Takes $1.01 Million Position in Truist Financial Corporation (NYSE:TFC)

Oak Thistle LLC bought a new stake in Truist Financial Corporation (NYSE:TFC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,474 shares of the insurance provider's stock, valued at approximately $1,007,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. Navigoe LLC bought a new stake in shares of Truist Financial during the 4th quarter valued at $26,000. Centennial Bank AR boosted its holdings in shares of Truist Financial by 360.2% during 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 in the last quarter. Sierra Ocean LLC boosted its holdings 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 valued at $37,000 after buying an additional 352 shares in the last quarter. Rossby Financial LCC bought a new stake in shares of Truist Financial during the 1st quarter valued at $43,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth about $57,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Bradley D. Bender sold 12,540 shares of the company's 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 transaction, the insider owned 500 shares of the company's stock, valued at $22,595. This represents a 96.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company's stock.

Truist Financial Stock Up 0.3%

TFC stock traded up $0.16 during trading on Friday, reaching $45.64. 6,278,182 shares of the company traded hands, compared to its average volume of 8,237,608. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The business has a 50 day simple moving average of $42.08 and a 200 day simple moving average of $42.10. The company has a market capitalization of $59.76 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results 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 firm had revenue of $5.04 billion for 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 company's revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, equities research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.56%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio is currently 56.68%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TFC. Stephens lowered their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Tuesday, July 8th. Barclays reduced their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.65.

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.