Vise Technologies Inc. Purchases 48,277 Shares of Truist Financial Corporation $TFC

Vise Technologies Inc. increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 118.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,062 shares of the insurance provider’s stock after purchasing an additional 48,277 shares during the quarter. Vise Technologies Inc.’s holdings in Truist Financial were worth $4,437,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Truist Financial by 3,130.8% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 13,020 shares of the insurance provider’s stock worth $649,000 after buying an additional 12,617 shares in the last quarter. Uptick Partners LLC bought a new position in shares of Truist Financial in the second quarter valued at approximately $217,000. Csenge Advisory Group boosted its holdings in shares of Truist Financial by 0.3% in the 2nd quarter. Csenge Advisory Group now owns 69,426 shares of the insurance provider’s stock worth $3,459,000 after acquiring an additional 227 shares in the last quarter. West Family Investments Inc. boosted its holdings in shares of Truist Financial by 4.6% in the 2nd quarter. West Family Investments Inc. now owns 5,498 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 242 shares in the last quarter. Finally, Essential Partners LLC grew its position in Truist Financial by 72.9% during the 2nd quarter. Essential Partners LLC now owns 3,358 shares of the insurance provider’s stock worth $167,000 after acquiring an additional 1,416 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

In related news, insider Donta L. Wilson sold 13,280 shares of Truist Financial stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the sale, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The SEC filing for this sale provides additional information. Insiders have sold 30,516 shares of company stock worth $1,584,428 in the last three months. Insiders own 0.15% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $50.29 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The company has a market cap of $61.44 billion, a PE ratio of 11.53, a PEG ratio of 1.07 and a beta of 0.89. The company’s 50-day moving average is $51.28 and its two-hundred day moving average is $49.81.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. Truist Financial’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TFC. Evercore reaffirmed an “outperform” rating and set a $57.00 price target on shares of Truist Financial in a report on Monday, July 6th. Morgan Stanley reissued an “equal weight” rating and issued a $54.00 price objective (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Keefe, Bruyette & Woods lifted their price target on Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.12.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.