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

Vontobel Holding Ltd. grew its position in shares of Truist Financial Co. (NYSE:TFC) by 1.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 22,317 shares of the insurance provider’s stock after acquiring an additional 426 shares during the quarter. Vontobel Holding Ltd.’s holdings in Truist Financial were worth $954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC purchased a new stake in Truist Financial in the first quarter worth approximately $2,351,000. Nordea Investment Management AB boosted its stake in shares of Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after purchasing an additional 834,048 shares in the last quarter. CreativeOne Wealth LLC bought a new position in shares of Truist Financial during the 1st quarter valued at $516,000. M&G Plc purchased a new position in Truist Financial in the 2nd quarter worth $2,804,000. Finally, Dimensional Fund Advisors LP lifted its stake in Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on TFC shares. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. Compass Point lifted their target price on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Finally, Barclays increased their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Up 1.7 %

Shares of Truist Financial stock opened at $43.67 on Monday. Truist Financial Co. has a 1 year low of $26.95 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average of $42.67 and a 200 day moving average of $40.32. The firm has a market cap of $58.43 billion, a price-to-earnings ratio of -33.08, a PEG ratio of 1.82 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 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 firm posted $0.95 EPS. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

Insider Activity

In other 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 shares were bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Truist Financial 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 owns 569,271 shares in the company, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The purchase 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 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 disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

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.