Lecap Asset Management Ltd. Purchases 2,542 Shares of Truist Financial Corporation $TFC

Lecap Asset Management Ltd. raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 30.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,958 shares of the insurance provider’s stock after buying an additional 2,542 shares during the period. Lecap Asset Management Ltd.’s holdings in Truist Financial were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TFC. Brighton Jones LLC increased its holdings in Truist Financial by 148.5% during the 4th 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. Merit Financial Group LLC raised its holdings in shares of Truist Financial by 31.3% in the first quarter. Merit Financial Group LLC now owns 51,203 shares of the insurance provider’s stock valued at $2,107,000 after buying an additional 12,202 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Truist Financial by 10.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 35,683 shares of the insurance provider’s stock valued at $1,468,000 after buying an additional 3,508 shares during the last quarter. Apella Capital LLC acquired a new position in Truist Financial during the 1st quarter worth about $277,000. Finally, HF Advisory Group LLC grew its holdings in Truist Financial by 14.2% during the 1st quarter. HF Advisory Group LLC now owns 40,096 shares of the insurance provider’s stock worth $1,650,000 after acquiring an additional 4,979 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $45.35 on Friday. The stock has a market cap of $58.47 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88. The stock has a 50-day moving average of $45.15 and a 200-day moving average of $42.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) 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 analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The firm’s revenue for the quarter was down 406.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. As a group, sell-side analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.6%. Truist Financial’s payout ratio is currently 56.68%.

Insider Transactions at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Evercore ISI lifted their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $48.89.

Truist Financial 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.