Citizens Financial Group Inc. RI Takes $841,000 Position in Truist Financial Corporation $TFC

Citizens Financial Group Inc. RI bought a new position in Truist Financial Corporation (NYSE:TFC) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 16,873 shares of the insurance provider’s stock, valued at approximately $841,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 3Chopt Investment Partners LLC lifted its position in Truist Financial by 1.3% in the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares during the last quarter. IFP Advisors Inc increased its position in Truist Financial by 2.4% during the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after acquiring an additional 194 shares during the last quarter. PCB Capital LLC raised its stake in shares of Truist Financial by 3.0% in the first quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after acquiring an additional 198 shares during the period. AlphaCore Capital LLC grew its holdings in Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 199 shares during the last quarter. Finally, CYBER HORNET ETFs LLC lifted its stake in Truist Financial by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $52.46 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $64.08 billion, a PE ratio of 12.03, a P/E/G ratio of 1.12 and a beta of 0.89. The firm’s 50 day moving average price is $51.27 and its 200-day moving average price is $49.82. Truist Financial Corporation has a 52-week low of $40.78 and a 52-week high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio is currently 47.71%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TFC shares. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Robert W. Baird boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods upped their price target 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. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.67.

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.