Czech National Bank Has $17.67 Million Stake in Truist Financial Corporation $TFC

Czech National Bank lifted its position in Truist Financial Corporation (NYSE:TFC) by 3.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 354,625 shares of the insurance provider’s stock after buying an additional 10,797 shares during the quarter. Czech National Bank’s holdings in Truist Financial were worth $17,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Woodline Partners LP boosted its holdings in Truist Financial by 39.5% during the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after acquiring an additional 31,454 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Truist Financial in the second quarter valued at about $575,000. AXA S.A. grew its position in shares of Truist Financial by 23.1% in the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after purchasing an additional 4,921 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in shares of Truist Financial by 20.1% in the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.5%

Shares of NYSE:TFC opened at $52.35 on Friday. The company has a market capitalization of $63.95 billion, a PE ratio of 12.01, a P/E/G ratio of 0.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company’s fifty day moving average is $50.69 and its 200-day moving average is $49.70. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Equities research analysts predict that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. Truist Financial’s payout ratio is 47.71%.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,516 shares of company stock valued at $1,584,428 in the last three months. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Royal Bank Of Canada increased their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Evercore reiterated an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a research note on Monday, July 6th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Finally, Jefferies Financial Group reissued a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $54.67.

Truist Financial Profile

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.