Truist Financial Corporation $TFC Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC grew its position in Truist Financial Corporation (NYSE:TFC) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,356 shares of the insurance provider’s stock after purchasing an additional 1,041 shares during the period. Jacobi Capital Management LLC’s holdings in Truist Financial were worth $1,537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth approximately $25,000. Centennial Bank AR raised its stake in shares of Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 580 shares during the period. Motco raised its stake in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. raised its stake in shares of Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares during the period. Finally, Sierra Ocean LLC raised its stake in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 352 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction on 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 directly owned 500 shares in the company, valued at $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Tuesday, July 8th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Keefe, Bruyette & Woods lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, July 9th. Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a research note on Monday, July 21st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.47.

Truist Financial Stock Performance

Truist Financial stock opened at $45.29 on Friday. The stock has a market cap of $58.40 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.68 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average of $45.02 and a 200-day moving average of $41.75. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid 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 dividend payout ratio (DPR) is 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.