Quantinno Capital Management LP Acquires 196,777 Shares of Truist Financial Corporation $TFC

Quantinno Capital Management LP lifted its stake in Truist Financial Corporation (NYSE:TFC) by 41.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,958 shares of the insurance provider’s stock after purchasing an additional 196,777 shares during the period. Quantinno Capital Management LP’s holdings in Truist Financial were worth $31,120,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. 3Chopt Investment Partners LLC lifted its position in Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after purchasing an additional 193 shares in the last quarter. IFP Advisors Inc increased its position in Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after buying an additional 194 shares in the last quarter. PCB Capital LLC raised its stake in shares of Truist Financial by 3.0% in the first quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after buying an additional 198 shares during the period. AlphaCore Capital LLC raised its stake in shares of Truist Financial by 8.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after buying an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its position in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after buying an additional 199 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TFC shares. Evercore reiterated an “outperform” rating and set a $57.00 price objective on shares of Truist Financial in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $63.00 to $54.00 in a research report on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.67.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total transaction of $202,090.20. Following the transaction, the director owned 10,270 shares of the company’s stock, valued at approximately $520,689. This represents a 27.96% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.15% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $51.91 on Friday. 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 Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The business has a 50-day moving average price of $50.28 and a 200-day moving average price of $49.62. The firm has a market cap of $64.68 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89.

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

Truist Financial Announces Dividend

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

Truist Financial Company 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.