Sapient Capital LLC Makes New Investment in Truist Financial Co. (NYSE:TFC)

Sapient Capital LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,952 shares of the insurance provider’s stock, valued at approximately $331,000.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new position in shares of Truist Financial during the first quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Truist Financial during the third quarter worth approximately $26,000. Operose Advisors LLC acquired a new position in shares of Truist Financial during the third quarter worth approximately $31,000. Quarry LP purchased a new stake in Truist Financial in the 1st quarter valued at $32,000. Finally, Tyler Stone Wealth Management purchased a new stake in Truist Financial in the 3rd quarter valued at $33,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE TFC opened at $36.77 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The stock’s 50-day moving average is $36.63 and its 200 day moving average is $34.25.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period last year, the firm posted $1.30 EPS. On average, equities research analysts expect that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.66%. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TFC. Raymond James increased their price target on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Barclays increased their price target on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price target on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $43.00 in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.47.

Truist Financial Company Profile

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.