Czech National Bank Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Czech National Bank boosted its stake in Truist Financial Co. (NYSE:TFC) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 254,986 shares of the insurance provider’s stock after acquiring an additional 20,313 shares during the quarter. Czech National Bank’s holdings in Truist Financial were worth $9,906,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in Truist Financial during the 1st quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Truist Financial in the first quarter worth about $29,000. Missouri Trust & Investment Co boosted its holdings in Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Rise Advisors LLC acquired a new stake in Truist Financial during the 1st quarter valued at approximately $32,000. Finally, Northwest Financial Advisors purchased a new stake in Truist Financial during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC traded up $0.15 during trading hours on Monday, hitting $41.71. 2,244,163 shares of the company were exchanged, compared to its average volume of 8,431,106. The firm has a fifty day simple moving average of $39.70 and a 200-day simple moving average of $38.17. The company has a market capitalization of $55.81 billion, a PE ratio of -31.48, a PEG ratio of 1.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. Truist Financial’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. As a group, sell-side analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.99%. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TFC shares. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America lifted their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their target price on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.30.

About Truist Financial

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.