Truist Financial Co. (NYSE:TFC) Shares Acquired by Brandes Investment Partners LP

Brandes Investment Partners LP boosted its holdings in Truist Financial Co. (NYSE:TFC) by 19.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 727,013 shares of the insurance provider’s stock after purchasing an additional 120,340 shares during the quarter. Brandes Investment Partners LP’s holdings in Truist Financial were worth $28,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. acquired a new position in shares of Truist Financial during the 2nd quarter valued at $1,066,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Truist Financial by 17.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 236,352 shares of the insurance provider’s stock valued at $9,182,000 after purchasing an additional 34,681 shares during the period. NewEdge Advisors LLC grew its holdings in Truist Financial by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 148,053 shares of the insurance provider’s stock valued at $5,752,000 after purchasing an additional 444 shares in the last quarter. Smith Thornton Advisors LLC purchased a new stake in Truist Financial during the 2nd quarter worth $220,000. Finally, Legal & General Group Plc grew its stake in shares of Truist Financial by 1.0% during the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after acquiring an additional 103,565 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.4 %

NYSE:TFC opened at $42.52 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. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The firm has a market capitalization of $56.90 billion, a price-to-earnings ratio of -32.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06. The stock has a fifty day simple moving average of $42.79 and a 200 day simple moving average of $39.74.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Sell-side analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Activity

In related news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price 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. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TFC has been the topic of several recent analyst reports. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Barclays upped their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, July 17th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.