Truist Financial Co. (NYSE:TFC) Shares Purchased by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,405 shares of the insurance provider’s stock after purchasing an additional 490 shares during the quarter. Wealth Advisors of Tampa Bay LLC’s holdings in Truist Financial were worth $870,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America upped their price target 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. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Finally, Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.45.

Truist Financial Stock Performance

Shares of TFC opened at $42.95 on Friday. The company has a market capitalization of $57.47 billion, a PE ratio of -32.54, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The company’s fifty day moving average price is $42.78 and its 200 day moving average price is $39.48.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business 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 firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business 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. 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 -157.58%.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction 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 in the company, valued at $25,025,153.16. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average price 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 in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred 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 insiders.

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.