Thomasville National Bank Has $3.72 Million Stake in Truist Financial Corporation $TFC

Key Points

• Thomasville National Bank raised its stake in Truist Financial Corporation by 11.5%, owning 86,411 shares valued at approximately $3.71 million as of the latest SEC filing.
• Truist Financial reported earnings of $0.91 per share for the latest quarter, missing analysts' expectations by two cents, and also announced a quarterly dividend of $0.52 per share.
• As of the latest reporting, hedge funds and institutional investors own approximately 71.28% of Truist Financial's stock, indicating strong institutional backing.

Thomasville National Bank grew its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,411 shares of the insurance provider's stock after purchasing an additional 8,941 shares during the quarter. Thomasville National Bank's holdings in Truist Financial were worth $3,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at $25,000. Centennial Bank AR grew its stake in Truist Financial by 360.2% in the 1st 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 grew its stake in Truist Financial by 435.6% in the 1st 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. grew its stake in Truist Financial by 115.3% in the 1st 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 grew its stake in Truist Financial by 64.4% in the 1st 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 Stock Up 0.7%

Shares of Truist Financial stock traded up $0.31 on Tuesday, hitting $45.70. The company had a trading volume of 1,865,535 shares, compared to its average volume of 8,449,653. The firm has a market capitalization of $58.93 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.71 and a beta of 0.88. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day moving average of $45.01 and a 200-day moving average of $41.76.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the prior year, the firm earned $0.91 EPS. The business's revenue for the quarter was down 406.0% compared to the same quarter last year. Research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 4.6%. Truist Financial's dividend payout ratio is presently 56.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TFC. 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, August 21st. Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a research note on Wednesday, July 9th. Morgan Stanley restated a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Finally, 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 research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $48.47.

Insider Buying and Selling at Truist Financial

In other Truist Financial 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 sale, the insider 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 document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by insiders.

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.