Poehling Capital Management INC. Has $2.05 Million Stake in Truist Financial Co. (NYSE:TFC)

Poehling Capital Management INC. lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 52,677 shares of the insurance provider’s stock after purchasing an additional 931 shares during the period. Poehling Capital Management INC.’s holdings in Truist Financial were worth $2,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors lifted its position in shares of Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares in the last quarter. Norges Bank acquired a new stake in shares of Truist Financial during the 4th quarter worth approximately $307,787,000. UBS Group AG raised its stake in shares of Truist Financial by 2.7% during the fourth quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock worth $144,507,000 after buying an additional 101,288 shares during the last quarter. Jennison Associates LLC lifted its holdings in Truist Financial by 48.9% in the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after buying an additional 1,261,598 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Truist Financial by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after acquiring an additional 58,349 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and upped their price target for the company from $45.00 to $47.00 in a research note on Wednesday, July 24th. Royal Bank of Canada increased their price target on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Stephens restated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Morgan Stanley upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $45.45.

Truist Financial Stock Up 0.5 %

Shares of NYSE:TFC opened at $41.84 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31. The company has a market capitalization of $56.03 billion, a PE ratio of -31.70, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The company has a fifty day moving average of $42.53 and a 200-day moving average of $39.31.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion for 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%. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.95 earnings per share. On average, equities analysts predict that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.97%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is presently -157.58%.

Insider Activity

In related news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was 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 SEC, which can be accessed through this hyperlink. In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

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.