160,323 Shares in Truist Financial Corporation $TFC Acquired by First National Bank of Omaha

First National Bank of Omaha acquired a new stake in Truist Financial Corporation (NYSE:TFC) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 160,323 shares of the insurance provider’s stock, valued at approximately $8,078,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Woodline Partners LP boosted its position in shares of Truist Financial by 39.5% during the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Truist Financial in the 2nd quarter worth about $575,000. AXA S.A. increased its holdings in Truist Financial by 23.1% in the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after buying an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its position in Truist Financial by 20.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after buying an additional 1,134 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America reiterated a “neutral” rating and issued a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Stephens decreased their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Evercore restated an “outperform” rating and set a $57.00 price objective on shares of Truist Financial in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised 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 investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.67.

Truist Financial Trading Down 0.1%

Shares of NYSE:TFC opened at $52.46 on Wednesday. The stock has a 50 day moving average of $51.27 and a 200 day moving average of $49.82. The company has a market cap of $64.08 billion, a PE ratio of 12.03, a price-to-earnings-growth 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 Corporation has a 12-month low of $40.78 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last released 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. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Truist Financial Corporation will post 4.58 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a 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%.

Insider Activity

In related news, insider Donta L. Wilson sold 13,280 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 10,270 shares of the company’s stock, valued at $520,689. The trade was a 27.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,516 shares of company stock worth $1,584,428 over the last quarter. Insiders own 0.15% of the company’s stock.

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.