Truist Financial Corporation $TFC Shares Acquired by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. increased its holdings in Truist Financial Corporation (NYSE:TFC) by 3,130.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,020 shares of the insurance provider’s stock after buying an additional 12,617 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Truist Financial were worth $649,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. 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 shares of Truist Financial during the 4th quarter worth approximately $26,000. N.E.W. Advisory Services LLC acquired a new position in shares of Truist Financial during the 2nd quarter worth approximately $30,000. Navigoe LLC acquired a new position in shares of Truist Financial during the 2nd quarter worth approximately $30,000. Finally, McMillan Office Inc. purchased a new stake in Truist Financial in the 4th quarter valued at approximately $31,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America reiterated a “neutral” rating and set a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Evercore restated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a research report 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. Finally, 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. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.12.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director directly owned 10,270 shares in the company, valued at approximately $520,689. This represents a 27.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the transaction, the insider owned 56,009 shares in the company, valued at $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,516 shares of company stock valued at $1,584,428 over the last quarter. Company insiders own 0.15% of the company’s stock.

Truist Financial Stock Down 1.3%

Shares of NYSE TFC opened at $50.29 on Friday. The firm has a market cap of $61.44 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The firm’s 50 day moving average price is $51.28 and its 200 day moving average price is $49.81.

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

Truist Financial Announces Dividend

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 given a $0.52 dividend. 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 payout ratio is currently 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.