Truist Financial Corporation $TFC Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in Truist Financial Corporation (NYSE:TFC) by 3.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,369 shares of the insurance provider’s stock after buying an additional 556 shares during the period. Vontobel Holding Ltd.’s holdings in Truist Financial were worth $790,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial during the first quarter worth about $25,000. Centennial Bank AR increased its position in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the last quarter. Motco increased its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after buying an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC increased its holdings in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after buying an additional 352 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the sale, the insider directly owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

TFC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research report on Wednesday, July 9th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Morgan Stanley lifted their price target on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Finally, Evercore ISI lifted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.89.

Truist Financial Stock Up 1.4%

Truist Financial stock opened at $42.92 on Tuesday. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a 50 day moving average of $45.15 and a two-hundred day moving average of $42.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $55.34 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.35 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its earnings results 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 analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. Truist Financial’s revenue was down 406.0% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.8%. Truist Financial’s dividend payout ratio is 56.68%.

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.