Groupe la Francaise Grows Stake in Truist Financial Corporation $TFC

Groupe la Francaise raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 20.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,012 shares of the insurance provider’s stock after purchasing an additional 14,315 shares during the period. Groupe la Francaise’s holdings in Truist Financial were worth $3,681,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First Hawaiian Bank lifted its stake in shares of Truist Financial by 8.6% in the 1st 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 during the period. Credit Agricole S A increased its holdings 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 buying an additional 216,672 shares in the last quarter. Empower Advisory Group LLC raised its position in shares of Truist Financial by 319.8% in the first quarter. Empower Advisory Group LLC now owns 29,143 shares of the insurance provider’s stock worth $1,199,000 after acquiring an additional 22,201 shares during the period. Inspire Trust Co. N.A. boosted its stake in shares of Truist Financial by 9.8% during the 1st quarter. Inspire Trust Co. N.A. now owns 90,000 shares of the insurance provider’s stock worth $3,704,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $2,435,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the transaction, the director owned 10,153 shares in the company, valued at $471,606.85. The trade was a 33.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of analyst reports. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, October 21st. Piper Sandler set a $48.00 target price on Truist Financial in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Truist Financial in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Finally, Evercore ISI increased their price objective 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 investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.00.

Truist Financial Trading Up 2.0%

TFC opened at $47.41 on Thursday. The firm has a market capitalization of $60.65 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.01 and a beta of 0.90. The company’s 50 day simple moving average is $44.73 and its two-hundred day simple moving average is $43.90. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $48.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. Truist Financial’s dividend payout ratio (DPR) is 55.91%.

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.