Nykredit A S Acquires New Shares in Truist Financial Corporation $TFC

Nykredit A S bought a new stake in Truist Financial Corporation (NYSE:TFC) during the second quarter, Holdings Channel reports. The institutional investor bought 304,114 shares of the insurance provider’s stock, valued at approximately $15,151,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Symphony Financial Ltd. Co. lifted its holdings in shares of Truist Financial by 3.1% during the 2nd quarter. Symphony Financial Ltd. Co. now owns 10,685 shares of the insurance provider’s stock valued at $539,000 after buying an additional 317 shares during the last quarter. Luken Investment Analytics LLC acquired a new position in Truist Financial in the second quarter worth approximately $58,000. Proficio Capital Partners LLC bought a new position in Truist Financial during the second quarter valued at approximately $266,000. Community Bank & Trust Waco Texas lifted its stake in Truist Financial by 2.3% in the second quarter. Community Bank & Trust Waco Texas now owns 24,913 shares of the insurance provider’s stock valued at $1,241,000 after acquiring an additional 558 shares during the last quarter. Finally, Advocacy Wealth Management LLC lifted its stake in Truist Financial by 2.3% in the second quarter. Advocacy Wealth Management LLC now owns 15,082 shares of the insurance provider’s stock valued at $751,000 after acquiring an additional 345 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.1%

Truist Financial stock opened at $51.68 on Friday. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $63.13 billion, a PE ratio of 11.85, a PEG ratio of 1.08 and a beta of 0.88. The business’s 50-day simple moving average is $51.55 and its 200-day simple moving average is $49.58.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. Equities research analysts forecast that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. Truist Financial’s payout ratio is 47.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TFC shares. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average price target of $55.12.

Insider Buying and Selling

In related news, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the transaction, the insider directly owned 56,009 shares in the company, valued at $2,904,066.65. This represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director K. Boyer, Jr. sold 3,986 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the sale, the director directly owned 10,270 shares of the company’s stock, valued at approximately $520,689. This trade represents a 27.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is owned by company insiders.

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.