Lynx Investment Advisory Makes New Investment in Truist Financial Co. (NYSE:TFC)

Lynx Investment Advisory acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,106 shares of the insurance provider’s stock, valued at approximately $121,000.

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Truist Financial during the first quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter valued at about $29,000. Rise Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter valued at about $32,000. Missouri Trust & Investment Co lifted its holdings in shares of Truist Financial by 227.2% in 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, Northwest Financial Advisors bought a new position in shares of Truist Financial in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

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 shares were acquired at an average cost 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 owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 cost of $43.96 per share, for a total transaction 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 disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Stock Up 1.1 %

TFC stock traded up $0.46 during trading on Tuesday, hitting $41.64. 7,614,553 shares of the company’s stock traded hands, compared to its average volume of 8,519,678. The firm has a market capitalization of $55.72 billion, a P/E ratio of -31.55, a PEG ratio of 1.97 and a beta of 1.06. The business has a fifty day simple moving average of $39.37 and a two-hundred day simple moving average of $38.04. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating 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%. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. Sell-side analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods increased 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 objective for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley raised their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus target price of $45.30.

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.