J. Safra Sarasin Holding AG Increases Stock Holdings in Truist Financial Corporation $TFC

J. Safra Sarasin Holding AG raised its stake in shares of Truist Financial Corporation (NYSE:TFC) by 57.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,170 shares of the insurance provider’s stock after purchasing an additional 10,252 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Truist Financial were worth $1,288,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Aspect Partners LLC boosted its stake in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in Truist Financial in the second quarter worth about $30,000. Capital A Wealth Management LLC boosted its position in Truist Financial by 1,189.5% during the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 678 shares in the last quarter. Darwin Wealth Management LLC boosted its position in Truist Financial by 631.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 600 shares in the last quarter. Finally, Ramirez Asset Management Inc. grew its holdings in shares of Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total value of $239,682.00. Following the transaction, the director directly owned 10,153 shares of the company’s stock, valued at approximately $471,606.85. This represents a 33.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the sale, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of research analyst reports. Robert W. Baird cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Argus raised their price objective on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Citigroup boosted their target price on shares of Truist Financial from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 31st. TD Cowen upped their target price on shares of Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Evercore ISI raised shares of Truist Financial from a “hold” rating to an “outperform” rating and lifted their price target for the company from $49.00 to $58.00 in a research report on Tuesday, January 6th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $54.20.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $50.36 on Thursday. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $51.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. The business has a fifty day moving average price of $49.12 and a 200-day moving average price of $46.29. The company has a market capitalization of $64.42 billion, a PE ratio of 13.22, a PEG ratio of 0.86 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, equities analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial announced that its board has approved a stock repurchase program on Tuesday, December 16th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 15.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, February 13th. Truist Financial’s dividend payout ratio is currently 54.59%.

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.