Focus Partners Advisor Solutions LLC Grows Stock Position in Truist Financial Corporation $TFC

Focus Partners Advisor Solutions LLC increased its stake in Truist Financial Corporation (NYSE:TFC) by 32.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,505 shares of the insurance provider’s stock after acquiring an additional 11,246 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Truist Financial were worth $2,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Truist Financial by 148.5% during the fourth 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 during the period. Woodline Partners LP raised its holdings in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Truist Financial during the 2nd quarter valued at $575,000. Hantz Financial Services Inc. boosted its position in Truist Financial by 697.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,092 shares of the insurance provider’s stock valued at $47,000 after buying an additional 955 shares during the period. Finally, TIAA Trust National Association grew its holdings in Truist Financial by 2.6% in the 2nd quarter. TIAA Trust National Association now owns 27,414 shares of the insurance provider’s stock worth $1,178,000 after acquiring an additional 682 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 0.4%

Shares of Truist Financial stock opened at $49.12 on Thursday. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $56.19. The firm has a market cap of $61.36 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.84 and a beta of 0.87. The company has a 50-day moving average of $51.14 and a 200 day moving average of $47.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the firm earned $0.91 EPS. The company’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.52 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio is presently 54.59%.

Truist Financial declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 16th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TFC. Barclays downgraded shares of Truist Financial from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $47.00 to $56.00 in a research note on Monday, January 5th. Morgan Stanley raised Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $56.00 to $69.00 in a research report on Tuesday, February 17th. TD Cowen increased their price objective on Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Argus boosted their target price on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, Piper Sandler raised their price target on Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $56.47.

Insider Buying and Selling

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the transaction, the chief financial officer owned 74,323 shares in the company, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Cynthia B. Powell sold 3,500 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. This represents a 83.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by company insiders.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.