Capitolis Liquid Global Markets LLC Invests $30.45 Million in Truist Financial Corporation $TFC

Capitolis Liquid Global Markets LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 665,900 shares of the insurance provider’s stock, valued at approximately $30,445,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Truist Financial in the 2nd quarter valued at $575,000. Clearstead Trust LLC raised its holdings in shares of Truist Financial by 55.0% during the 2nd quarter. Clearstead Trust LLC now owns 2,861 shares of the insurance provider’s stock worth $123,000 after buying an additional 1,015 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Truist Financial by 6.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 321,172 shares of the insurance provider’s stock worth $13,807,000 after buying an additional 20,234 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TFC. Weiss Ratings downgraded Truist Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Argus boosted their target price on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Barclays cut shares of Truist Financial from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $47.00 to $56.00 in a report on Monday, January 5th. Citigroup raised their price target on shares of Truist Financial from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 31st. Finally, TD Cowen lifted their price target on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.47.

Truist Financial Trading Down 1.3%

Shares of TFC stock opened at $43.82 on Friday. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $56.19. The stock’s fifty day simple moving average is $50.60 and its 200 day simple moving average is $47.70. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $54.73 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.75 and a beta of 0.87.

Truist Financial (NYSE:TFC) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The firm had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. Truist Financial’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, February 13th. Truist Financial’s dividend payout ratio (DPR) is 54.59%.

Truist Financial announced that its board has authorized a share buyback plan on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the transaction, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. This represents a 83.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the transaction, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at $3,725,811.99. The trade was a 14.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by company insiders.

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.