First Hawaiian Bank increased its stake in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,991 shares of the insurance provider’s stock after acquiring an additional 948 shares during the period. First Hawaiian Bank’s holdings in Truist Financial were worth $493,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 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 worth $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Janus Henderson Group PLC grew its stake in Truist Financial by 1.7% during the 4th quarter. Janus Henderson Group PLC now owns 179,859 shares of the insurance provider’s stock worth $7,805,000 after buying an additional 3,042 shares during the last quarter. Lazard Asset Management LLC grew its stake in Truist Financial by 101.1% during the 4th quarter. Lazard Asset Management LLC now owns 14,316 shares of the insurance provider’s stock worth $620,000 after buying an additional 7,197 shares during the last quarter. Quantinno Capital Management LP grew its stake in Truist Financial by 34.9% during the 4th quarter. Quantinno Capital Management LP now owns 98,013 shares of the insurance provider’s stock worth $4,252,000 after buying an additional 25,366 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Truist Financial during the 4th quarter worth $594,000. 71.28% of the stock is owned by institutional investors and hedge funds.
Get Truist Financial alerts:
Truist Financial Trading Down 0.2%
Shares of Truist Financial stock opened at $45.22 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The firm has a market cap of $58.30 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. The business has a fifty day simple moving average of $45.02 and a 200-day simple moving average of $41.69. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion during 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 company’s quarterly revenue was down 406.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. On average, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio is currently 56.68%.
Analysts Set New Price Targets
A number of research analysts recently commented on TFC shares. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Tuesday, July 8th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Citigroup upgraded 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 research note on Thursday, June 26th. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research note on Wednesday, July 9th. Finally, Morgan Stanley restated a “mixed” rating on shares of Truist Financial in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.47.
Read Our Latest Stock Report on TFC
Insider Activity at Truist Financial
In related 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 value of $566,682.60. Following the transaction, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
Truist Financial Company Profile
(Free Report)
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.
Featured Articles
Five stocks we like better than Truist Financial
How to Use High Beta Stocks to Maximize Your Investing Profits
Best Bang For Your Buck? 2 Bargain Stocks with 30%+ Upside
Canadian Penny Stocks: Can They Make You Rich?
Football Season Is Here and DraftKings Stock Is Surging
Stock Trading Terms – Stock Terms Every Investor Needs to Know
RH Stock Slides After Mixed Earnings and Tariff Concerns
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Corporation (NYSE:TFC – Free Report).