Truist Financial Co. (NYSE:TFC) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lowered its stake in Truist Financial Co. (NYSE:TFC) by 23.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,848 shares of the insurance provider’s stock after selling 5,523 shares during the period. Whittier Trust Co.’s holdings in Truist Financial were worth $693,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Crewe Advisors LLC purchased a new position in Truist Financial during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Truist Financial in the 1st quarter worth about $29,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial during the 2nd quarter worth about $30,000. Missouri Trust & Investment Co grew its stake in 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 in the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, 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. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on TFC. Piper Sandler boosted their price objective on shares of Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. upped their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Stephens upped their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Keefe, Bruyette & Woods lifted their price target on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $45.30.

Truist Financial Stock Performance

Shares of TFC traded up $0.19 during mid-day trading on Thursday, hitting $44.13. The company’s stock had a trading volume of 1,293,652 shares, compared to its average volume of 8,335,366. The stock’s 50-day moving average is $41.20 and its two-hundred day moving average is $38.65. The firm has a market capitalization of $59.05 billion, a PE ratio of -33.27, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06. 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.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (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 company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period last year, the business posted $0.95 EPS. The business’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.56 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 4.71%. The ex-dividend date is Friday, August 9th. Truist Financial’s payout ratio is presently -157.58%.

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.