Truist Financial Corp Acquires 311,523 Shares of Truist Financial Co. (NYSE:TFC)

Truist Financial Corp raised its holdings in Truist Financial Co. (NYSE:TFC) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,931,783 shares of the insurance provider’s stock after acquiring an additional 311,523 shares during the quarter. Truist Financial Corp owned about 0.37% of Truist Financial worth $191,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TFC. Crewe Advisors LLC bought a new stake in Truist Financial in the first quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial during the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC acquired a new position in Truist Financial during the first quarter valued at approximately $32,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.6 %

Shares of TFC stock opened at $42.77 on Tuesday. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31. The stock has a market cap of $57.23 billion, a price-to-earnings ratio of -32.40, a PEG ratio of 1.93 and a beta of 1.06. The firm’s 50-day moving average is $42.77 and its 200-day moving average is $39.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the company’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 SEC, which is accessible through the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s 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 acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Argus raised their price target on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada raised 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. 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 company’s stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Hold” and a consensus target price of $45.45.

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.