Semmax Financial Advisors Inc. Raises Stake in Truist Financial Corporation $TFC

Key Points

• Semmax Financial Advisors Inc. increased its stake in Truist Financial Corporation by 7.9% in the 1st quarter, bringing its total holdings to 93,562 shares valued at approximately $3.65 million.
• Truist Financial reported a quarterly EPS of $0.91, which fell short of analysts' expectations of $0.93, with revenues meeting estimates at $5.04 billion.
• The company announced a quarterly dividend of $0.52, yielding 4.5% annually, with a payout ratio (DPR) of 56.68% as of the latest filing.

Semmax Financial Advisors Inc. raised its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,562 shares of the insurance provider's stock after purchasing an additional 6,890 shares during the quarter. Semmax Financial Advisors Inc.'s holdings in Truist Financial were worth $3,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TFC. Wealth Preservation Advisors LLC bought a new stake in shares of Truist Financial during the first quarter valued at approximately $25,000. Centennial Bank AR raised its position in shares of Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after buying an additional 580 shares during the last quarter. Motco raised its position in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider's stock valued at $33,000 after buying an additional 649 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock valued at $36,000 after buying an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC raised its position in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after buying an additional 352 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

TFC traded up $0.17 during trading hours on Thursday, hitting $45.29. The company's stock had a trading volume of 7,388,409 shares, compared to its average volume of 7,013,195. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The stock has a market cap of $58.40 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.68 and a beta of 0.88. The business's 50-day moving average price is $45.02 and its 200-day moving average price is $41.75.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. Truist Financial's payout ratio is 56.68%.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TFC shares. Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a research report 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 report on Thursday, June 26th. Keefe, Bruyette & Woods cut shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective on the stock. in a research report on Wednesday, July 9th. TD Cowen started coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target on the stock. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.47.

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.