GSA Capital Partners LLP Makes New $718,000 Investment in Truist Financial Corporation $TFC

GSA Capital Partners LLP bought a new position in Truist Financial Corporation (NYSE:TFC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,406 shares of the insurance provider’s stock, valued at approximately $718,000.

Other large investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in Truist Financial during the 4th quarter worth $26,000. McMillan Office Inc. acquired a new position in Truist Financial during the 4th quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in Truist Financial by 259.1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of several research reports. Morgan Stanley reissued an “equal weight” rating and issued a $54.00 target price (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. raised their price target on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.67.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,986 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 10,270 shares of the company’s stock, valued at $520,689. This trade represents a 27.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,516 shares of company stock worth $1,584,428. Corporate insiders own 0.15% of the company’s stock.

Truist Financial Stock Performance

TFC opened at $50.99 on Thursday. The business’s 50-day moving average price is $51.29 and its two-hundred day moving average price is $49.82. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The company has a market capitalization of $62.30 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.10 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The company 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 quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts expect that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s payout ratio is presently 47.71%.

Truist Financial 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.