Revisor Wealth Management LLC bought a new position in Truist Financial Corporation (NYSE:TFC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,459 shares of the insurance provider's stock, valued at approximately $612,000.
A number of other large investors have also recently made changes to their positions in the stock. Amundi boosted its stake in Truist Financial by 4.6% during the first quarter. Amundi now owns 24,774,656 shares of the insurance provider's stock valued at $1,019,477,000 after buying an additional 1,091,311 shares during the period. Invesco Ltd. increased its holdings in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after buying an additional 3,188,999 shares during the period. American Century Companies Inc. increased its holdings in Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider's stock valued at $495,509,000 after purchasing an additional 2,158,639 shares during the period. Federated Hermes Inc. increased its holdings in Truist Financial by 0.9% during the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider's stock valued at $391,404,000 after purchasing an additional 89,373 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Truist Financial by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider's stock valued at $330,408,000 after purchasing an additional 408,726 shares during the period. 71.28% of the stock is owned by institutional investors.
Truist Financial Price Performance
NYSE:TFC opened at $45.44 on Tuesday. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $58.59 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.71 and a beta of 0.88. The firm's fifty day moving average is $45.01 and its two-hundred day moving average is $41.76.
Truist Financial (NYSE:TFC - Get Free Report) last posted 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). 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 during the quarter, compared to analysts' expectations of $5.04 billion. During the same period in the previous year, the company posted $0.91 earnings per share. Truist Financial's revenue for the quarter was down 406.0% compared to the same quarter last year. Research analysts expect that Truist Financial Corporation will post 4 EPS for the current year.
Truist Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's dividend payout ratio is presently 56.68%.
Insider Activity
In other news, insider Bradley D. Bender sold 12,540 shares of the 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 of the company's stock, valued at $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on TFC. Wells Fargo & Company reiterated an "equal weight" rating and set a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods cut Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a report on Wednesday, July 9th. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and increased their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Finally, Morgan Stanley reaffirmed a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $48.47.
View Our Latest Stock Analysis on Truist Financial
Truist Financial Company Profile
(
Free Report)
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.
Further Reading
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