Wilmington Savings Fund Society FSB Has $12.99 Million Stock Holdings in Truist Financial Corporation $TFC

Wilmington Savings Fund Society FSB lessened its holdings in Truist Financial Corporation (NYSE:TFC) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 302,226 shares of the insurance provider’s stock after selling 8,146 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Truist Financial were worth $12,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. First Hawaiian Bank grew its stake in Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after purchasing an additional 948 shares in the last quarter. Code Waechter LLC purchased a new position in Truist Financial in the first quarter valued at about $365,000. Cantor Fitzgerald Investment Advisors L.P. grew its stake in Truist Financial by 4.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider’s stock valued at $17,927,000 after purchasing an additional 19,286 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in Truist Financial by 55.1% in the first quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock valued at $5,530,000 after purchasing an additional 47,717 shares in the last quarter. Finally, Credit Agricole S A grew its stake in Truist Financial by 76.4% in the first quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock valued at $20,591,000 after purchasing an additional 216,672 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $42.92 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $45.15 and a two-hundred day moving average of $42.19. The stock has a market capitalization of $55.34 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.35 and a beta of 0.88. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The company’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, equities research analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. Truist Financial’s payout ratio is presently 56.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TFC. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Evercore ISI boosted their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.89.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider directly owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

About Truist Financial

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.