Truist Financial Corporation $TFC Shares Acquired by Caxton Associates LLP

Caxton Associates LLP boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 101.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,416 shares of the insurance provider’s stock after purchasing an additional 19,390 shares during the quarter. Caxton Associates LLP’s holdings in Truist Financial were worth $1,766,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Kemnay Advisory Services Inc. acquired a new position in Truist Financial in the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. McMillan Office Inc. acquired a new stake in shares of Truist Financial during the fourth quarter worth about $31,000. Maseco LLP boosted its stake in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 1.1%

Shares of NYSE:TFC opened at $51.75 on Friday. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The firm’s 50-day simple moving average is $49.81 and its 200-day simple moving average is $49.56. The company has a market cap of $64.48 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.94 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.15. The firm had revenue of $5.31 billion during 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 firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, equities research analysts predict that Truist Financial Corporation will post 4.59 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s payout ratio is presently 47.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TFC. Bank of America restated a “neutral” rating and issued a $56.00 price target (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $54.00 price objective (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. UBS Group lowered Truist Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $58.00 to $55.00 in a report on Tuesday, July 7th. Finally, Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $54.61.

Truist Financial Company 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.