Truist Financial Co. (NYSE:TFC) Shares Purchased by Czech National Bank

Czech National Bank boosted its holdings in Truist Financial Co. (NYSE:TFC) by 7.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 272,797 shares of the insurance provider’s stock after purchasing an additional 17,811 shares during the quarter. Czech National Bank’s holdings in Truist Financial were worth $11,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Truist Financial in the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial during the second quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC purchased a new stake in Truist Financial in the 1st quarter valued at $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 2.2 %

Shares of NYSE TFC traded up $0.90 during midday trading on Friday, reaching $42.39. 5,570,030 shares of the stock were exchanged, compared to its average volume of 8,232,891. The company has a market capitalization of $56.72 billion, a P/E ratio of -32.11, a P/E/G ratio of 1.95 and a beta of 1.05. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $42.59 and a 200-day moving average price of $39.92.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share 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 firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the previous year, the company posted $0.95 earnings per share. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. Equities research analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.91%. Truist Financial’s payout ratio is currently -157.58%.

Insider Transactions at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were 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 SEC, which is available through this hyperlink. In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent research reports. Barclays increased their price target on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada increased their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Morgan Stanley increased their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $45.45.

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.