Vontobel Holding Ltd. Buys 426 Shares of Truist Financial Co. (NYSE:TFC)

Vontobel Holding Ltd. grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,317 shares of the insurance provider’s stock after purchasing an additional 426 shares during the period. Vontobel Holding Ltd.’s holdings in Truist Financial were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth $29,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the 2nd quarter valued at $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial during the 2nd quarter valued at $31,000. Finally, Hobbs Group Advisors LLC acquired a new position in Truist Financial during the second quarter worth $38,000. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group decreased their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Argus raised their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.02.

Truist Financial Price Performance

NYSE TFC opened at $43.67 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $58.43 billion, a PE ratio of -33.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. Truist Financial Co. has a 52 week low of $26.95 and a 52 week high of $45.31. The firm’s 50-day simple moving average is $42.67 and its two-hundred day simple moving average is $40.32.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the company posted $0.95 EPS. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. Research analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The stock was acquired 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 of the company’s stock, valued at $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% 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.