Truist Financial Corporation $TFC Shares Bought by Capital International Inc. CA

Capital International Inc. CA increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 14.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,425,303 shares of the insurance provider’s stock after buying an additional 176,097 shares during the period. Capital International Inc. CA owned about 0.11% of Truist Financial worth $65,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Aprio Wealth Management LLC increased its position in shares of Truist Financial by 2.7% in the 3rd quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 226 shares during the last quarter. Leisure Capital Management grew its stake in shares of Truist Financial by 1.2% during the third quarter. Leisure Capital Management now owns 19,985 shares of the insurance provider’s stock worth $914,000 after purchasing an additional 230 shares in the last quarter. Smith Thornton Advisors LLC grew its stake in shares of Truist Financial by 4.1% during the third quarter. Smith Thornton Advisors LLC now owns 5,900 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 231 shares in the last quarter. Gries Financial LLC increased its holdings in Truist Financial by 4.4% in the third quarter. Gries Financial LLC now owns 5,507 shares of the insurance provider’s stock valued at $252,000 after buying an additional 233 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Truist Financial by 6.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 3,730 shares of the insurance provider’s stock worth $170,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, CFO Michael Baron Maguire sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares in the company, valued at $3,725,811.99. This represents a 14.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the sale, the chief accounting officer owned 667 shares in the company, valued at approximately $35,010.83. The trade was a 83.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. Barclays cut Truist Financial from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $47.00 to $56.00 in a research note on Monday, January 5th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price target on the stock in a research note on Monday. Piper Sandler boosted their price objective on shares of Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating and issued a $58.00 target price on shares of Truist Financial in a report on Tuesday, January 6th. Finally, Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $56.47.

Truist Financial Price Performance

TFC stock opened at $46.75 on Tuesday. The company has a market capitalization of $58.39 billion, a P/E ratio of 12.27, a PEG ratio of 0.79 and a beta of 0.87. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $56.19. The business has a 50 day simple moving average of $50.94 and a 200-day simple moving average of $47.74. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last announced its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 16th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, February 13th. Truist Financial’s dividend payout ratio (DPR) is presently 54.59%.

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.