Hancock Whitney Corp increased its stake in Truist Financial Corporation (NYSE:TFC) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,491 shares of the insurance provider’s stock after buying an additional 13,713 shares during the quarter. Hancock Whitney Corp’s holdings in Truist Financial were worth $2,050,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in TFC. Covington Capital Management acquired a new stake in Truist Financial during the 4th quarter valued at $25,000. Riggs Asset Managment Co. Inc. acquired a new stake in Truist Financial during the 4th quarter valued at $26,000. Field & Main Bank acquired a new stake in Truist Financial during the 4th quarter valued at $26,000. NuWave Investment Management LLC acquired a new stake in Truist Financial during the 4th quarter valued at $26,000. Finally, Global Trust Asset Management LLC acquired a new stake in Truist Financial during the 4th quarter valued at $28,000. 69.95% of the stock is owned by institutional investors and hedge funds.
In other news, VP Brantley J. Standridge sold 4,800 shares of Truist Financial stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $31.82, for a total transaction of $152,736.00. Following the sale, the vice president now directly owns 14,010 shares of the company’s stock, valued at $445,798.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellen Koebler sold 10,000 shares of Truist Financial stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $31.97, for a total value of $319,700.00. Following the sale, the insider now directly owns 16,859 shares in the company, valued at $538,982.23. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Shares of NYSE TFC opened at $33.29 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.98 and a current ratio of 0.99. Truist Financial Corporation has a 52 week low of $24.01 and a 52 week high of $56.92. The stock has a market capitalization of $45.10 billion, a P/E ratio of 8.01, a PEG ratio of 1.46 and a beta of 1.46. The stock’s fifty day moving average is $33.56 and its 200 day moving average is $46.48.
Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 20th. The insurance provider reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.33. Truist Financial had a return on equity of 8.98% and a net margin of 19.60%. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business earned $0.97 earnings per share. Truist Financial’s revenue was up 93.2% on a year-over-year basis. Equities research analysts forecast that Truist Financial Corporation will post 2.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Thursday, May 14th. Truist Financial’s dividend payout ratio is presently 41.19%.
About Truist Financial
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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