Truist Financial Co. (NYSE:TFC) Stock Position Increased by Waterloo Capital L.P.

Waterloo Capital L.P. lifted its position in Truist Financial Co. (NYSE:TFC) by 9.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,412 shares of the insurance provider’s stock after buying an additional 1,225 shares during the period. Waterloo Capital L.P.’s holdings in Truist Financial were worth $560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parnassus Investments LLC acquired a new stake in shares of Truist Financial during the fourth quarter worth $95,049,000. Rafferty Asset Management LLC raised its position in shares of Truist Financial by 47.7% during the fourth quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock worth $43,760,000 after purchasing an additional 382,976 shares during the period. Treasurer of the State of North Carolina raised its position in shares of Truist Financial by 4.1% during the fourth quarter. Treasurer of the State of North Carolina now owns 624,320 shares of the insurance provider’s stock worth $23,050,000 after purchasing an additional 24,535 shares during the period. Norden Group LLC acquired a new stake in shares of Truist Financial during the first quarter worth $2,351,000. Finally, Nordea Investment Management AB raised its position in shares of Truist Financial by 44.4% during the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after purchasing an additional 834,048 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $42.02 on Thursday. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The business has a 50-day moving average of $42.73 and a two-hundred day moving average of $39.46. The stock has a market capitalization of $56.27 billion, a P/E ratio of -31.83, a P/E/G ratio of 1.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts predict that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TFC shares. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lifted their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Argus lifted their price target on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

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.