Truist Financial Corporation $TFC Stock Position Lifted by Venture Visionary Partners LLC

Key Points

• Venture Visionary Partners LLC increased its holdings in Truist Financial Corporation by 41.1% in the 2nd quarter, now owning 100,632 shares worth approximately $4.3 million.
• Truist Financial's quarterly earnings report revealed a missed EPS estimate of $0.91 compared to the consensus of $0.93, alongside a significant revenue decline of 406.0% year-over-year.
• The company announced a quarterly dividend of $0.52 with a 4.5% yield, and currently holds a dividend payout ratio of 56.68%.

Venture Visionary Partners LLC lifted its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 41.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,632 shares of the insurance provider's stock after purchasing an additional 29,299 shares during the quarter. Venture Visionary Partners LLC's holdings in Truist Financial were worth $4,326,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of TFC. Victory Capital Management Inc. grew its stake in shares of Truist Financial by 922.9% in the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider's stock worth $274,237,000 after purchasing an additional 6,012,817 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock valued at $540,723,000 after buying an additional 3,188,999 shares during the period. Nuveen LLC bought a new position in Truist Financial during the first quarter valued at about $117,929,000. Assenagon Asset Management S.A. grew its holdings in Truist Financial by 610.8% during the first quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider's stock worth $109,537,000 after acquiring an additional 2,287,410 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Truist Financial by 21.8% in the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider's stock valued at $495,509,000 after acquiring an additional 2,158,639 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Down 0.3%

Shares of Truist Financial stock opened at $45.90 on Tuesday. The stock has a 50-day moving average price of $45.15 and a 200 day moving average price of $41.96. The company has a market cap of $59.19 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.48 and a beta of 0.88. 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 1 year low of $33.56 and a 1 year high of $49.06.

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

Truist Financial Dividend Announcement

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

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider directly owned 500 shares of the company's stock, valued at $22,595. This represents a 96.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TFC. Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Tuesday, July 8th. Wells Fargo & Company restated an "equal weight" rating and set a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and raised their price objective for the company from $44.00 to $55.00 in a research 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 report on Wednesday, July 9th. Finally, Morgan Stanley raised their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an "equal weight" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.82.

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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