Truist Financial Co. (NYSE:TFC) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its stake in Truist Financial Co. (NYSE:TFC) by 1.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,362 shares of the insurance provider’s stock after selling 850 shares during the quarter. Hancock Whitney Corp’s holdings in Truist Financial were worth $1,918,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. grew its position in Truist Financial by 4.6% in the second quarter. Pacer Advisors Inc. now owns 95,577 shares of the insurance provider’s stock valued at $3,713,000 after acquiring an additional 4,192 shares in the last quarter. AE Wealth Management LLC grew its holdings in Truist Financial by 8.3% during the 2nd quarter. AE Wealth Management LLC now owns 414,261 shares of the insurance provider’s stock valued at $16,094,000 after purchasing an additional 31,689 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Truist Financial by 31.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,826 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 439 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Truist Financial by 16.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 107,592 shares of the insurance provider’s stock worth $4,180,000 after buying an additional 15,262 shares in the last quarter. Finally, Wealth Advisors of Tampa Bay LLC boosted its position in Truist Financial by 2.2% in the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 22,405 shares of the insurance provider’s stock valued at $870,000 after buying an additional 490 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group raised their price target on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $45.45.

Truist Financial Trading Down 1.4 %

NYSE:TFC opened at $42.32 on Friday. The firm has a market capitalization of $56.63 billion, a P/E ratio of -32.06, a P/E/G ratio of 1.98 and a beta of 1.06. The business has a 50 day simple moving average of $42.81 and a 200 day simple moving average of $39.54. 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 12-month low of $26.57 and a 12-month high of $45.31.

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

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 4.91%. Truist Financial’s payout ratio is currently -157.58%.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of 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 filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

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.