Truist Financial Co. (NYSE:TFC) Position Boosted by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 646,080 shares of the insurance provider’s stock after purchasing an additional 14,433 shares during the period. Truist Financial makes up approximately 0.9% of Deprince Race & Zollo Inc.’s holdings, making the stock its 16th biggest position. Deprince Race & Zollo Inc.’s holdings in Truist Financial were worth $35,857,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC grew its holdings in shares of Truist Financial by 142.3% in the 1st quarter. Truvestments Capital LLC now owns 487 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 286 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the second quarter worth approximately $29,000. Eukles Asset Management acquired a new position in Truist Financial in the 2nd quarter valued at approximately $46,000. Eagle Bay Advisors LLC acquired a new stake in shares of Truist Financial during the 2nd quarter valued at $46,000. Finally, Covington Capital Management grew its holdings in shares of Truist Financial by 325.3% during the 1st quarter. Covington Capital Management now owns 825 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.

In related news, EVP Brantley J. Standridge sold 4,500 shares of the business’s stock in a transaction dated Thursday, August 19th. The stock was sold at an average price of $55.11, for a total transaction of $247,995.00. Following the completion of the transaction, the executive vice president now owns 11,547 shares of the company’s stock, valued at approximately $636,355.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

A number of analysts recently issued reports on TFC shares. Zacks Investment Research raised Truist Financial from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Thursday, July 1st. Odeon Capital Group lowered Truist Financial from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.36.

Truist Financial stock traded up $2.19 during trading hours on Monday, reaching $60.19. 258,722 shares of the company were exchanged, compared to its average volume of 5,512,845. Truist Financial Co. has a 12 month low of $34.86 and a 12 month high of $62.69. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $55.84 and a 200 day moving average of $57.37. The firm has a market cap of $80.95 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.13 and a beta of 1.34.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Wednesday, July 14th. The insurance provider reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.38. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.48 billion. Truist Financial had a net margin of 23.46% and a return on equity of 11.13%. Truist Financial’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. As a group, research analysts forecast that Truist Financial Co. will post 5.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were given a $0.48 dividend. This is an increase from Truist Financial’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Thursday, August 12th. Truist Financial’s dividend payout ratio (DPR) is currently 50.53%.

Truist Financial Company Profile

Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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