Truist Financial Corporation $TFC Shares Acquired by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 7.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 19,545 shares of the insurance provider’s stock after purchasing an additional 1,320 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Truist Financial were worth $840,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Truist Financial by 922.9% during the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after purchasing an additional 6,012,817 shares during the period. Invesco Ltd. increased its stake in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after purchasing an additional 3,188,999 shares in the last quarter. Nuveen LLC acquired a new stake in Truist Financial during the 1st quarter worth about $117,929,000. Assenagon Asset Management S.A. raised its holdings 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 buying an additional 2,287,410 shares during the period. Finally, American Century Companies Inc. lifted its stake in Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after buying an additional 2,158,639 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $45.91 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The stock has a fifty day moving average price of $45.07 and a 200 day moving average price of $41.81. The stock has a market cap of $59.20 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.70 and a beta of 0.88.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. Analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s payout ratio is currently 56.68%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TFC. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Tuesday, July 8th. Morgan Stanley restated a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research report on Wednesday, July 9th. Finally, Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.47.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider owned 500 shares in the company, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company 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.