Eagle Strategies LLC Buys 1,309 Shares of Truist Financial Corporation $TFC

Eagle Strategies LLC boosted its stake in Truist Financial Corporation (NYSE:TFC) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,036 shares of the insurance provider’s stock after purchasing an additional 1,309 shares during the period. Eagle Strategies LLC’s holdings in Truist Financial were worth $388,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Amundi grew its position in Truist Financial by 4.6% in the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after purchasing an additional 1,091,311 shares during the period. Invesco Ltd. grew its position in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after purchasing an additional 3,188,999 shares during the period. American Century Companies Inc. grew its position in Truist Financial by 21.8% in the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after purchasing an additional 2,158,639 shares during the period. Federated Hermes Inc. grew its position in Truist Financial by 0.9% in the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after purchasing an additional 89,373 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Truist Financial by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock valued at $330,408,000 after acquiring an additional 408,726 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TFC shares. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research report on Wednesday, July 9th. Morgan Stanley boosted their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research report on Tuesday. Finally, Evercore ISI boosted their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.89.

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Up 0.2%

TFC opened at $44.22 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm’s fifty day moving average is $45.17 and its 200 day moving average is $42.16. The stock has a market cap of $57.02 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The firm’s quarterly revenue was down 406.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. On average, sell-side analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.7%. Truist Financial’s payout ratio is presently 56.68%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.