Compass Financial Management LLC Makes New $606,000 Investment in Truist Financial Corporation $TFC

Compass Financial Management LLC acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,114 shares of the insurance provider’s stock, valued at approximately $606,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Truist Financial in the 2nd quarter valued at about $4,959,834,000. Pinnacle Financial Partners Inc. lifted its position in Truist Financial by 30.0% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after acquiring an additional 40,393 shares during the period. Fifth Third Bancorp lifted its position in Truist Financial by 531.8% during the 1st quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock worth $20,059,000 after acquiring an additional 367,291 shares during the period. Franklin Street Advisors Inc. NC grew its stake in shares of Truist Financial by 129.1% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 37,253 shares of the insurance provider’s stock valued at $1,856,000 after purchasing an additional 20,991 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of Truist Financial by 77.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 158,394 shares of the insurance provider’s stock valued at $7,795,000 after purchasing an additional 68,990 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,986 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director owned 10,270 shares in the company, valued at $520,689. This trade represents a 27.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The disclosure for this sale is available in the SEC filing. Insiders sold 30,516 shares of company stock worth $1,584,428 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Stephens lowered their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $63.00 to $54.00 in a research note on Tuesday, June 30th. UBS Group cut shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Finally, Evercore reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Truist Financial in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus price target of $55.12.

Truist Financial Stock Up 0.1%

TFC opened at $50.48 on Monday. 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 Corporation has a 12 month low of $40.78 and a 12 month high of $56.19. The stock has a market capitalization of $61.67 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.06 and a beta of 0.89. The business has a 50 day simple moving average of $51.26 and a 200-day simple moving average of $49.80.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping 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%.Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, equities analysts anticipate that Truist Financial Corporation will post 4.58 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio 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.