Truist Financial Corporation $TFC Position Raised by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. lifted its position in shares of Truist Financial Corporation (NYSE:TFCFree Report) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,180 shares of the insurance provider’s stock after purchasing an additional 8,170 shares during the period. Truist Financial comprises approximately 1.4% of Disciplined Equity Management Inc.’s portfolio, making the stock its 8th largest position. Disciplined Equity Management Inc.’s holdings in Truist Financial were worth $2,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ritholtz Wealth Management lifted its holdings in Truist Financial by 31.5% during the 2nd quarter. Ritholtz Wealth Management now owns 8,860 shares of the insurance provider’s stock worth $381,000 after buying an additional 2,122 shares during the last quarter. J.Safra Asset Management Corp raised its position in shares of Truist Financial by 55.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 8,171 shares of the insurance provider’s stock worth $348,000 after acquiring an additional 2,905 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Truist Financial by 1,848.7% during the second quarter. Bayforest Capital Ltd now owns 4,599 shares of the insurance provider’s stock worth $198,000 after purchasing an additional 4,363 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in Truist Financial by 22.1% in the second quarter. Sagespring Wealth Partners LLC now owns 21,806 shares of the insurance provider’s stock valued at $937,000 after purchasing an additional 3,946 shares in the last quarter. Finally, Morningstar Investment Management LLC increased its stake in Truist Financial by 23.1% in the second quarter. Morningstar Investment Management LLC now owns 15,728 shares of the insurance provider’s stock valued at $676,000 after purchasing an additional 2,948 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 500 shares of the company’s stock, valued at approximately $22,595. This represents a 96.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent analyst reports. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Morgan Stanley upped their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $48.89.

Check Out Our Latest Stock Report on Truist Financial

Truist Financial Stock Performance

Shares of TFC opened at $43.89 on Wednesday. The stock has a market capitalization of $56.60 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The company’s fifty day moving average is $45.15 and its two-hundred day moving average is $42.20.

Truist Financial (NYSE:TFCGet Free Report) last released its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the business posted $0.91 EPS. The firm’s revenue was down 406.0% on a year-over-year basis. On average, sell-side analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s payout ratio is currently 56.68%.

About Truist Financial

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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