Ashton Thomas Private Wealth LLC acquired a new stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,299 shares of the insurance provider’s stock, valued at approximately $89,000.
Several other institutional investors also recently bought and sold shares of TFC. Crewe Advisors LLC purchased a new stake in Truist Financial during the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the 2nd quarter valued at about $30,000. Missouri Trust & Investment Co boosted its holdings in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter valued at about $32,000. 71.28% of the stock is owned by hedge funds and other institutional investors.
Truist Financial Stock Up 0.5 %
TFC opened at $41.84 on Friday. 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 fifty-two week low of $26.57 and a fifty-two week high of $45.31. The firm’s fifty day moving average is $42.53 and its 200 day moving average is $39.31. The stock has a market cap of $56.03 billion, a price-to-earnings ratio of -31.70, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.
Truist Financial (NYSE:TFC – Get Free Report) last announced 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 for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on TFC. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price target for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. The Goldman Sachs Group raised 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. 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 research note on Wednesday, July 17th. Finally, Bank of America upped their target price 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. 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 an average rating of “Hold” and a consensus target price of $45.45.
Get Our Latest Analysis on TFC
Insider Buying and Selling at Truist Financial
In other Truist Financial 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 transaction of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction of $295,208.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price 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 in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.
Truist Financial Company Profile
(Free Report)
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.
See Also
Receive News & Ratings for Truist Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Truist Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
