Sandhill Capital Partners LLC Grows Holdings in Truist Financial Corporation $TFC

Key Points

• Sandhill Capital Partners LLC increased its holdings in Truist Financial Corporation by 8.9%, owning 82,377 shares valued at approximately $3.39 million after acquiring an additional 6,709 shares.
• Truist Financial's quarterly earnings report showed an EPS of $0.91, falling short of analysts' estimates of $0.93, while the revenue remained stable at $5.04 billion year-over-year.
• The company declared a quarterly dividend of $0.52 per share, resulting in an annualized dividend yield of 4.7%, with a payout ratio of 56.68%.

Sandhill Capital Partners LLC lifted its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,377 shares of the insurance provider's stock after purchasing an additional 6,709 shares during the period. Sandhill Capital Partners LLC's holdings in Truist Financial were worth $3,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Navigoe LLC bought a new stake in shares of Truist Financial in the 4th quarter worth about $26,000. Centennial Bank AR increased its position in 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 purchasing an additional 580 shares during the period. Motco increased its position in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. increased its position in Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 468 shares during the period. Finally, Sierra Ocean LLC increased its position in 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 purchasing an additional 352 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 4.1%

Shares of TFC traded up $1.8180 during mid-day trading on Friday, hitting $45.8880. 6,668,983 shares of the company's stock were exchanged, compared to its average volume of 6,212,761. The company 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. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week 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 stock's 50-day moving average is $43.76 and its 200-day moving average is $41.81.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share 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 analysts' expectations of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm's quarterly revenue was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced 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 yield of 4.5%. Truist Financial's payout ratio is presently 56.68%.

Insiders Place Their Bets

In related news, insider Bradley D. Bender sold 12,540 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

TFC has been the topic of a number of analyst reports. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a research note on Monday, July 21st. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Finally, TD Cowen started coverage on shares of Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 target price for the company. Two 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.47.

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.