Truist Financial Corporation $TFC Shares Bought by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Truist Financial Corporation by 17.7%, owning 54,895 shares valued at $2,360,000 as of the second quarter.
• Insider Bradley D. Bender sold 12,540 shares of Truist Financial, resulting in a 96.17% decrease in their ownership.
• Analysts have mixed ratings for Truist Financial, with a consensus target price of $48.89 and various firms offering "Buy" and "Hold" recommendations.

Commerzbank Aktiengesellschaft FI raised its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 17.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,895 shares of the insurance provider's stock after purchasing an additional 8,269 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Truist Financial were worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Foster Victor Wealth Advisors LLC raised its position in Truist Financial by 0.4% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider's stock valued at $2,804,000 after purchasing an additional 242 shares in the last quarter. Klingman & Associates LLC raised its position in Truist Financial by 2.2% in the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider's stock valued at $484,000 after purchasing an additional 248 shares in the last quarter. Haverford Trust Co raised its position in Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider's stock valued at $319,000 after purchasing an additional 262 shares in the last quarter. Keystone Financial Group Inc. raised its position in Truist Financial by 1.3% in the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider's stock valued at $942,000 after purchasing an additional 266 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in Truist Financial by 8.0% in the 1st quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider's stock valued at $160,000 after purchasing an additional 288 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Truist Financial in a research report on Tuesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Truist Financial in a research report on Wednesday. Evercore ISI raised their target price on Truist Financial from $48.00 to $50.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $47.00 target price 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 assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $48.89.

Truist Financial Trading Down 4.4%

TFC opened at $42.32 on Friday. The firm has a market cap of $54.57 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The business's 50 day moving average is $45.16 and its two-hundred day moving average is $42.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75.

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

Truist Financial Announces Dividend

The company also recently declared 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 of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.9%. Truist Financial's payout ratio is 56.68%.

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.

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