Czech National Bank Has $9.91 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Czech National Bank grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,986 shares of the insurance provider’s stock after buying an additional 20,313 shares during the quarter. Czech National Bank’s holdings in Truist Financial were worth $9,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TFC. Prime Capital Investment Advisors LLC bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $379,000. Mirae Asset Global Investments Co. Ltd. raised its position in Truist Financial by 53.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Truist Financial by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after acquiring an additional 1,731 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Truist Financial during the 4th quarter worth $49,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Truist Financial by 30.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 43,767 shares of the insurance provider’s stock worth $1,616,000 after acquiring an additional 10,334 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday. The Goldman Sachs Group boosted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Finally, Stephens raised their target price on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.30.

Truist Financial Stock Performance

Shares of Truist Financial stock traded up $0.15 during trading hours on Monday, reaching $41.71. The company had a trading volume of 2,244,163 shares, compared to its average volume of 8,431,106. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The firm has a market cap of $55.81 billion, a PE ratio of -31.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The business has a fifty day simple moving average of $39.70 and a 200 day simple moving average of $38.17.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.99%. The ex-dividend date is Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

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.