Weaver C. Barksdale & Associates Inc. Trims Holdings in Truist Financial Co. (NYSE:TFC)

Weaver C. Barksdale & Associates Inc. decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,422 shares of the insurance provider’s stock after selling 491 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Truist Financial were worth $949,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Truist Financial in the first quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new stake in Truist Financial in the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the 2nd quarter valued at $30,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial during the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial in the first quarter worth $32,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several recent analyst reports. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Barclays boosted their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group 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 report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and an average target price of $45.45.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The shares were purchased 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 owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction 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 acquisition, 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. 0.17% of the stock is owned by company insiders.

Truist Financial Price Performance

TFC opened at $42.95 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $42.78 and its 200 day simple moving average is $39.48. The firm has a market cap of $57.47 billion, a price-to-earnings ratio of -32.54, a PEG ratio of 1.98 and a beta of 1.06. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31.

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, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. As a group, analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.84%. Truist Financial’s payout ratio is presently -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.