Truist Financial Co. (NYSE:TFC) Holdings Raised by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC lifted its stake in Truist Financial Co. (NYSE:TFC) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,543 shares of the insurance provider’s stock after acquiring an additional 843 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Truist Financial were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Investment Counsel Inc increased its position in Truist Financial by 0.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after purchasing an additional 244 shares during the last quarter. Verum Partners LLC raised its position in Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after acquiring an additional 261 shares in the last quarter. CX Institutional lifted its stake in Truist Financial by 3.4% in the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 263 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Truist Financial by 1.5% during the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock worth $722,000 after purchasing an additional 274 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Truist Financial by 2.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock worth $557,000 after buying an additional 275 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, 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 legal filing with the SEC, which is available at this link. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on TFC. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group increased their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley boosted their price objective 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. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Barclays boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research 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 given a buy rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Hold” and an average price target of $45.45.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $42.00 on Wednesday. The firm’s 50-day simple moving average is $42.82 and its 200-day simple moving average is $39.63. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The company 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 company’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. Equities analysts forecast that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. Truist Financial’s dividend 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.