Truist Financial Corporation $TFC Shares Bought by Czech National Bank

Czech National Bank raised its stake in Truist Financial Corporation (NYSE:TFC) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 354,625 shares of the insurance provider’s stock after purchasing an additional 10,797 shares during the period. Czech National Bank’s holdings in Truist Financial were worth $17,667,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Truist Financial during the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new position in shares of Truist Financial during the fourth quarter valued at approximately $26,000. McMillan Office Inc. bought a new position in shares of Truist Financial during the fourth quarter valued at approximately $31,000. Maseco LLP raised its position in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TFC. Bank of America restated a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a research note on Wednesday, July 29th. Evercore reissued an “outperform” rating and set a $57.00 price target on shares of Truist Financial in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average target price of $54.67.

Truist Financial Price Performance

Shares of NYSE TFC opened at $52.35 on Friday. The stock has a market cap of $63.95 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.96 and a beta of 0.89. The firm’s 50-day simple moving average is $50.69 and its 200 day simple moving average is $49.70. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the company earned $0.91 EPS. Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts expect that Truist Financial Corporation will post 4.59 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th. Truist Financial’s payout ratio is currently 47.71%.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the sale, the director owned 10,270 shares of the company’s stock, valued at $520,689. The trade was a 27.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,516 shares of company stock worth $1,584,428. 0.15% of the stock is owned by corporate 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.