Truist Financial Co. (NYSE:TFC) Shares Acquired by Semmax Financial Advisors Inc.

Semmax Financial Advisors Inc. increased its position in shares of Truist Financial Co. (NYSE:TFC) by 21.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,168 shares of the insurance provider’s stock after acquiring an additional 14,739 shares during the period. Semmax Financial Advisors Inc.’s holdings in Truist Financial were worth $3,553,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TFC. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Bank of America increased their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price 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 price target on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a 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 objective 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 issued a buy rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and an average target price of $45.45.

Truist Financial Price Performance

Truist Financial stock opened at $42.19 on Tuesday. 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 Co. has a one year low of $26.57 and a one year high of $45.31. The company has a market cap of $56.45 billion, a P/E ratio of -31.96, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The business has a fifty day moving average of $42.83 and a two-hundred day moving average of $39.60.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 negative net margin of 5.63% and a positive return on equity of 9.18%. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. As a group, analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the 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 legal filing with the SEC, which is available through this hyperlink. In related news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased 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 owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’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. Corporate insiders own 0.17% of the company’s stock.

About Truist Financial

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.