Truist Financial Corporation $TFC Shares Purchased by Professional Advisory Services Inc.

Key Points

• Professional Advisory Services Inc. increased its holdings in Truist Financial Corporation by 4.2%, owning 462,373 shares valued at approximately $19.88 million as of the latest SEC filing.
• Truist Financial's stock has received various analyst ratings, with a consensus rating of "Moderate Buy" and a target price of $48.47.
• The company declared a quarterly dividend of $0.52 per share, resulting in an annualized dividend of $2.08 and a yield of 4.5%.

Professional Advisory Services Inc. increased its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 462,373 shares of the insurance provider's stock after buying an additional 18,706 shares during the period. Truist Financial comprises about 2.7% of Professional Advisory Services Inc.'s holdings, making the stock its 21st largest position. Professional Advisory Services Inc.'s holdings in Truist Financial were worth $19,877,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its holdings in Truist Financial by 8.6% in the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider's stock valued at $493,000 after purchasing an additional 948 shares in the last quarter. Code Waechter LLC acquired a new position in shares of Truist Financial during the 1st quarter valued at about $365,000. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Truist Financial by 4.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock valued at $17,927,000 after acquiring an additional 19,286 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in shares of Truist Financial by 55.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider's stock valued at $5,530,000 after acquiring an additional 47,717 shares during the last quarter. Finally, Credit Agricole S A increased its stake in shares of Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider's stock valued at $20,591,000 after acquiring an additional 216,672 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFC. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 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 research report on Tuesday, July 8th. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Citigroup raised shares of Truist Financial from a "neutral" rating to a "buy" rating and increased their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price for the company. in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.47.

Insider Buying and Selling at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider directly owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Truist Financial Stock Performance

TFC stock traded up $0.13 during mid-day trading on Tuesday, reaching $45.52. The company had a trading volume of 4,607,602 shares, compared to its average volume of 8,464,951. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $58.69 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.71 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 stock's 50-day simple moving average is $45.01 and its two-hundred day simple moving average is $41.76.

Truist Financial (NYSE:TFC - Get Free Report) last posted its 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 net margin of 16.82% and a return on equity of 8.69%. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business's quarterly revenue was down 406.0% compared to the same quarter last year. Research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial's payout ratio is currently 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.