Sivia Capital Partners LLC Makes New $575,000 Investment in Truist Financial Corporation $TFC

Key Points

• Sivia Capital Partners LLC acquired a new position in Truist Financial Corporation, purchasing 13,382 shares valued at approximately $575,000 in the 2nd quarter.
• Several large institutional investors, including Amundi and Invesco Ltd., significantly increased their stakes in Truist Financial during the first quarter, reflecting growing confidence in the company.
• Truist Financial recently declared a quarterly dividend of $0.52 per share, yielding 4.7%, and reported earnings of $0.91 per share, slightly missing analysts' expectations.

Sivia Capital Partners LLC bought a new position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,382 shares of the insurance provider's stock, valued at approximately $575,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock worth $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Truist Financial by 101.1% during the 4th quarter. Lazard Asset Management LLC now owns 14,316 shares of the insurance provider's stock worth $620,000 after purchasing an additional 7,197 shares during the last quarter. Woodline Partners LP bought a new position in Truist Financial during the 4th quarter worth approximately $3,458,000. Waverly Advisors LLC raised its holdings in Truist Financial by 9.1% during the 4th quarter. Waverly Advisors LLC now owns 78,194 shares of the insurance provider's stock worth $3,392,000 after purchasing an additional 6,546 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Truist Financial by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock worth $465,827,000 after purchasing an additional 1,307,252 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 0.2%

NYSE TFC traded down $0.11 during mid-day trading on Friday, hitting $45.97. The company's stock had a trading volume of 19,223,350 shares, compared to its average volume of 7,549,722. The company's 50 day simple moving average is $45.01 and its 200 day simple moving average is $41.73. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $59.28 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.72 and a beta of 0.88.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (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 analyst estimates of $5.04 billion. During the same period in the previous year, the business posted $0.91 EPS. The business's revenue for the quarter was down 406.0% compared to the same quarter last year. Analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on TFC. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a report on Monday, July 21st. Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Tuesday, July 8th. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and raised their price target for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Keefe, Bruyette & Woods lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective for the company. in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Two investment 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 company's stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and an average target price of $48.47.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial 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 directly owned 500 shares of the company's stock, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company's stock.

About Truist Financial

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.