Commerzbank Aktiengesellschaft FI Takes Position in Truist Financial Corporation $TFC

Commerzbank Aktiengesellschaft FI bought a new position in Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 45,522 shares of the insurance provider’s stock, valued at approximately $2,268,000.

A number of other institutional investors have also recently bought and sold shares of TFC. Vanguard Group Inc. lifted its stake in Truist Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock worth $5,892,453,000 after purchasing an additional 701,049 shares during the period. Capital International Investors grew its stake in shares of Truist Financial by 0.7% in the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock valued at $5,332,835,000 after purchasing an additional 715,433 shares during the period. Victory Capital Management Inc. grew its stake in shares of Truist Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock valued at $1,572,968,000 after purchasing an additional 2,226,288 shares during the period. Morgan Stanley raised its holdings in shares of Truist Financial by 2.9% in the 4th quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after buying an additional 597,255 shares in the last quarter. Finally, Auto Owners Insurance Co raised its holdings in shares of Truist Financial by 4,821.0% in the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after buying an additional 13,884,480 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,986 shares of Truist Financial stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the sale, the director directly owned 10,270 shares in the company, valued at $520,689. This trade represents a 27.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This represents a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,516 shares of company stock worth $1,584,428 over the last 90 days. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

TFC has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Bank of America reiterated a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Royal Bank Of Canada boosted their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.67.

Truist Financial Trading Down 1.0%

TFC opened at $52.58 on Tuesday. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19. The firm has a 50-day moving average price of $51.21 and a two-hundred day moving average price of $49.81. The stock has a market capitalization of $64.23 billion, a PE ratio of 12.06, a PEG ratio of 1.12 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. Truist Financial’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, equities analysts anticipate that Truist Financial Corporation will post 4.58 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend 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.