Truist Financial Corporation $TFC Shares Acquired by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. grew its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 7.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 140,000 shares of the insurance provider’s stock after purchasing an additional 10,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Truist Financial were worth $6,482,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Truist Financial during the 2nd quarter worth approximately $4,959,834,000. Bank of New York Mellon Corp acquired a new position in Truist Financial during the 2nd quarter valued at approximately $338,855,000. Deutsche Bank AG purchased a new position in shares of Truist Financial in the second quarter worth $257,208,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Truist Financial in the second quarter worth $151,526,000. Finally, SEB Asset Management AB purchased a new position in shares of Truist Financial in the first quarter worth $124,144,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $50.26 on Wednesday. The company has a 50 day simple moving average of $48.35 and a two-hundred day simple moving average of $49.50. The stock has a market cap of $60.23 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.12 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. Truist Financial Corporation has a 12 month low of $43.13 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the company earned $1.04 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that Truist Financial Corporation will post 4.66 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is presently 53.61%.

Analysts Set New Price Targets

TFC has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Truist Financial from $54.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, October 21st. Royal Bank Of Canada cut their target price on Truist Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Robert W. Baird raised their target price on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. HSBC initiated coverage on Truist Financial in a research report on Monday, September 28th. They set a “buy” rating and a $61.00 price target for the company. Finally, The Goldman Sachs Group dropped their price target on Truist Financial from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $54.73.

Insider Transactions at Truist Financial

In related news, CEO Michael Lyons acquired 25,000 shares of the stock in a transaction on Wednesday, October 28th. The shares were acquired at an average price of $48.36 per share, for a total transaction of $1,209,000.00. Following the transaction, the chief executive officer owned 46,000 shares in the company, valued at approximately $2,224,560. This trade represents a 119.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

About Truist Financial

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.