Truist Financial Co. (NYSE:TFC) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,667 shares of the insurance provider’s stock after selling 2,564 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Truist Financial were worth $1,354,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norden Group LLC acquired a new stake in shares of Truist Financial during the first quarter valued at approximately $2,351,000. Nordea Investment Management AB increased its stake in Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after buying an additional 834,048 shares during the period. CreativeOne Wealth LLC acquired a new position in Truist Financial in the 1st quarter valued at approximately $516,000. BlueChip Wealth Advisors LLC acquired a new position in Truist Financial in the 4th quarter valued at approximately $3,879,000. Finally, M&G Plc acquired a new position in Truist Financial in the 2nd quarter valued at approximately $2,804,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 2.2 %

Shares of Truist Financial stock traded up $0.90 on Friday, hitting $42.39. The company had a trading volume of 5,570,030 shares, compared to its average volume of 8,232,891. The firm has a market capitalization of $56.72 billion, a P/E ratio of -32.11, a P/E/G ratio of 1.95 and a beta of 1.05. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day moving average of $42.59 and a 200-day moving average of $39.92.

Truist Financial (NYSE:TFC) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Research analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on 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 this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on 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 this link. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on TFC shares. The Goldman Sachs Group upped their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, July 17th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America increased their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Argus increased their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $45.45.

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.