OLD National Bancorp IN Purchases 12,844 Shares of Truist Financial Co. (NYSE:TFC)

OLD National Bancorp IN raised its holdings in Truist Financial Co. (NYSE:TFC) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,554 shares of the insurance provider’s stock after acquiring an additional 12,844 shares during the quarter. OLD National Bancorp IN’s holdings in Truist Financial were worth $9,812,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TFC. International Assets Investment Management LLC lifted its position in shares of Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in Truist Financial during the fourth quarter worth $379,000. Stratos Wealth Partners LTD. boosted its stake in shares of Truist Financial by 7.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 65,720 shares of the insurance provider’s stock valued at $2,426,000 after purchasing an additional 4,566 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after purchasing an additional 117,524 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in Truist Financial by 22.5% during the fourth quarter. Meeder Advisory Services Inc. now owns 16,920 shares of the insurance provider’s stock worth $625,000 after buying an additional 3,103 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Stephens lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Bank of America raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday. Finally, Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.30.

Truist Financial Stock Up 0.0 %

Shares of NYSE:TFC traded up $0.01 during trading on Friday, hitting $41.56. 5,908,250 shares of the company were exchanged, compared to its average volume of 8,470,773. The stock has a market cap of $55.61 billion, a price-to-earnings ratio of -31.48, a P/E/G ratio of 1.95 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The firm has a fifty day moving average price of $39.70 and a two-hundred day moving average price of $38.15.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 5.00%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Transactions at Truist Financial

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

Truist Financial Company Profile

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.