Key Points
- Truist CEO Michael Lyons bought 21,000 shares at an average price of $48.36, investing approximately $1.02 million and becoming the direct owner of 21,000 shares.
- Truist reported quarterly earnings of $1.23 per share, exceeding estimates of $1.08, while revenue rose 5.6% year over year to $5.31 billion.
- The company pays a quarterly dividend of $0.52 per share, equivalent to a 4.3% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $55.12.
Truist Financial Corporation (NYSE:TFC - Get Free Report) CEO Michael Lyons purchased 21,000 shares of Truist Financial stock in a transaction on Thursday, September 17th. The shares were acquired at an average price of $48.36 per share, with a total value of $1,015,560.00. Following the transaction, the chief executive officer directly owned 21,000 shares in the company, valued at $1,015,560. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Truist Financial Price Performance
Shares of TFC opened at $48.52 on Friday. The firm has a market capitalization of $59.27 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.01 and a beta of 0.88. 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 one year low of $40.78 and a one year high of $56.19. The stock's fifty day moving average is $51.36 and its 200-day moving average is $49.49.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.15. The business had revenue of $5.31 billion for the quarter, compared to analysts' expectations of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company's revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Equities analysts anticipate that Truist Financial Corporation will post 4.61 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 4.3%. Truist Financial's dividend payout ratio (DPR) is presently 47.71%.
Analyst Ratings Changes
Several research analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $53.00 to $55.00 and gave the company a "market perform" rating in a report on Monday, July 20th. Stephens dropped their target price on Truist Financial from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, July 21st. UBS Group cut Truist Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $58.00 to $55.00 in a report on Tuesday, July 7th. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on Truist Financial from $53.00 to $54.00 and gave the company an "underweight" rating in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $55.12.
View Our Latest Research Report on Truist Financial
Institutional Investors Weigh In On Truist Financial
A number of institutional investors and hedge funds have recently bought and sold shares of TFC. Capital International Investors raised its holdings in shares of Truist Financial by 0.7% in the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider's stock worth $5,332,835,000 after purchasing an additional 715,433 shares in the last quarter. BlackRock Inc. acquired a new stake in Truist Financial during the second quarter valued at approximately $4,959,834,000. Victory Capital Management Inc. lifted its stake in Truist Financial by 7.5% during the fourth quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider's stock valued at $1,572,968,000 after purchasing an additional 2,226,288 shares during the last quarter. Auto Owners Insurance Co boosted its holdings in Truist Financial by 4,821.0% during the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider's stock worth $697,428,000 after buying an additional 13,884,480 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Truist Financial by 7.5% during the first quarter. Bank of New York Mellon Corp now owns 11,289,721 shares of the insurance provider's stock worth $518,988,000 after buying an additional 789,179 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
About Truist Financial
(
Get Free Report)
Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.
Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.
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