Holderness Investments Co. Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Holderness Investments Co. increased its stake in Truist Financial Co. (NYSE:TFC) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,145 shares of the insurance provider’s stock after acquiring an additional 359 shares during the quarter. Holderness Investments Co.’s holdings in Truist Financial were worth $2,337,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new stake in Truist Financial during the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial during the second quarter valued at approximately $31,000. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial in the first quarter valued at approximately $32,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

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

Truist Financial Trading Down 1.4 %

Shares of TFC stock opened at $42.32 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 firm has a market cap of $56.63 billion, a PE ratio of -32.06, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a 50-day moving average of $42.81 and a two-hundred day moving average of $39.54. 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 quarterly earnings data 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 analysts’ expectations of $4.83 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was down 15.9% on a year-over-year basis. On average, analysts predict that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Analyst Upgrades and Downgrades

Several analysts recently commented on TFC shares. Bank of America boosted their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Morgan Stanley raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Barclays upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $45.45.

Truist Financial 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.