Truist Financial Corporation $TFC Shares Bought by Ransom Advisory Ltd

Ransom Advisory Ltd boosted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,130 shares of the insurance provider’s stock after acquiring an additional 330 shares during the quarter. Ransom Advisory Ltd’s holdings in Truist Financial were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TFC. Victory Capital Management Inc. lifted its position in Truist Financial by 922.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after acquiring an additional 6,012,817 shares during the period. Invesco Ltd. lifted its position in Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after acquiring an additional 3,188,999 shares during the period. Nuveen LLC acquired a new stake in Truist Financial during the 1st quarter worth approximately $117,929,000. Assenagon Asset Management S.A. lifted its position in Truist Financial by 610.8% during the 1st 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 position in Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after acquiring an additional 2,158,639 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

NYSE TFC opened at $45.22 on Monday. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a market capitalization of $58.30 billion, a P/E ratio of 12.32, a PEG ratio of 1.69 and a beta of 0.88. The business has a 50 day moving average price of $45.02 and a 200 day moving average price 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 quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share 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 firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was down 406.0% on a year-over-year basis. Sell-side analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Tuesday, July 8th. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a report on Wednesday, July 9th. Morgan Stanley reissued a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Finally, Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.47.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Truist Financial 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.