Quantbot Technologies LP Buys 225,474 Shares of Truist Financial Corporation $TFC

Key Points

• Quantbot Technologies LP significantly increased its stake in Truist Financial Corporation by acquiring an additional 225,474 shares, raising its total holdings to 238,775 shares worth approximately $9.83 million.
• Truist Financial's quarterly earnings report revealed an EPS of $0.91, missing analysts' expectations, while the company reported a net margin of 16.82% and a year-over-year revenue decline.
• The company declared a quarterly dividend of $0.52 per share, with a yield of 4.7%, highlighting its commitment to returning value to shareholders despite recent stock fluctuations.

Quantbot Technologies LP increased its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 1,695.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 238,775 shares of the insurance provider's stock after purchasing an additional 225,474 shares during the quarter. Quantbot Technologies LP's holdings in Truist Financial were worth $9,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TFC. Navigoe LLC acquired a new stake in Truist Financial in the 4th quarter valued at about $26,000. Centennial Bank AR lifted its holdings in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 580 shares during the last quarter. Motco lifted its holdings in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 649 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC lifted its holdings in Truist Financial by 64.4% in the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 352 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TFC. Citigroup upgraded Truist Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company restated an "equal weight" rating and set a $47.00 price objective on shares of Truist Financial in a report on Thursday. Finally, Keefe, Bruyette & Woods downgraded 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 equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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 0.17% of the company's stock.

Truist Financial Stock Up 4.1%

Shares of TFC traded up $1.8180 during trading hours on Friday, reaching $45.8880. The company's stock had a trading volume of 6,668,983 shares, compared to its average volume of 6,212,761. The firm has a market cap of $59.17 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.64 and a beta of 0.87. The company has a 50 day moving average of $43.76 and a two-hundred day moving average of $41.81. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company's quarterly revenue was down 406.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. As a group, research analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. Truist Financial's payout ratio is presently 56.68%.

Truist Financial 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.