Truist Financial Corporation $TFC Shares Purchased by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 20,608 shares of the insurance provider’s stock after buying an additional 402 shares during the period. Capital Asset Advisory Services LLC’s holdings in Truist Financial were worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TFC. Amundi grew its position in Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after purchasing an additional 1,091,311 shares during the last quarter. Invesco Ltd. grew its position in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after purchasing an additional 3,188,999 shares during the last quarter. American Century Companies Inc. grew its position 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 worth $495,509,000 after purchasing an additional 2,158,639 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Truist Financial by 13.9% in 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. Finally, Federated Hermes Inc. grew its position in Truist Financial by 0.9% in the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after purchasing an additional 89,373 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.2%

TFC stock opened at $45.22 on Monday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm has a market cap of $58.30 billion, a PE ratio of 12.32, a P/E/G ratio of 1.69 and a beta of 0.88. The firm has a 50 day simple moving average of $45.02 and a 200 day simple moving average of $41.69. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last released its 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). 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 for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was down 406.0% on a year-over-year basis. Equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid 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 4.6%. Truist Financial’s dividend payout ratio is currently 56.68%.

Wall Street Analyst Weigh In

Several research firms have commented on TFC. Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research report on Wednesday, July 9th. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price 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 increased their price objective for the company from $44.00 to $55.00 in a report on Thursday, June 26th. 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 report on Tuesday, July 8th. Finally, Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.47.

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 500 shares of the company’s stock, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.