Teacher Retirement System of Texas Increases Holdings in Truist Financial Corporation $TFC

Key Points

• Teacher Retirement System of Texas boosted its stake in Truist by 14.4%, adding 29,241 shares to hold 231,969 shares worth about $11.42 million at the end of the quarter.
• Truist beat quarterly estimates, reporting $1.09 EPS versus $1.00 expected and $5.20 billion in revenue (up 5% year‑over‑year), with analysts projecting roughly 4.51 EPS for the current fiscal year.
• The bank pays a $0.52 quarterly dividend (annualized $2.08) for a 4.1% yield

Teacher Retirement System of Texas boosted its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,969 shares of the insurance provider's stock after purchasing an additional 29,241 shares during the period. Teacher Retirement System of Texas' holdings in Truist Financial were worth $11,415,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the 3rd quarter valued at about $28,000. Maseco LLP grew its holdings in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider's stock worth $32,000 after acquiring an additional 228 shares during the period. Ancora Advisors LLC grew its holdings in shares of Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider's stock worth $32,000 after acquiring an additional 500 shares during the period. Darwin Wealth Management LLC grew its holdings in shares of Truist Financial by 631.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider's stock worth $32,000 after acquiring an additional 600 shares during the period. Finally, Tripletail Wealth Management LLC purchased a new position in shares of Truist Financial during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Truist Financial stock opened at $50.75 on Friday. Truist Financial Corporation has a twelve month low of $37.47 and a twelve month high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $62.98 billion, a P/E ratio of 12.59, a PEG ratio of 0.88 and a beta of 0.89. The stock's 50 day moving average is $48.18 and its 200 day moving average is $48.04.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.18 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Truist Financial Corporation will post 4.51 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial's payout ratio is 51.61%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of the business's stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer directly owned 74,323 shares of the company's stock, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Cynthia B. Powell sold 3,500 shares of the business's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares in the company, valued at $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TFC. Morgan Stanley reduced their target price on Truist Financial from $63.00 to $62.00 and set an "overweight" rating on the stock in a report on Monday, April 20th. Barclays downgraded Truist Financial from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $47.00 to $56.00 in a report on Monday, January 5th. Piper Sandler upped their target price on Truist Financial from $50.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their target price on Truist Financial from $57.00 to $51.50 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Finally, TD Cowen upped their target price on Truist Financial from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $55.41.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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