Wellington Shields & Co. LLC Has $155,000 Stock Position in Truist Financial Co. (NYSE:TFC)

Wellington Shields & Co. LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 33.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,000 shares of the insurance provider’s stock after purchasing an additional 1,000 shares during the period. Wellington Shields & Co. LLC’s holdings in Truist Financial were worth $155,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TFC. Crewe Advisors LLC acquired a new stake in Truist Financial during the first quarter valued at $27,000. Opal Wealth Advisors LLC bought a new position in Truist Financial during the first quarter valued at about $29,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter valued at about $30,000. Missouri Trust & Investment Co raised its holdings in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares in the last quarter. Finally, Rise Advisors LLC bought a new position in Truist Financial during the first quarter valued at about $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised their target price on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Morgan Stanley raised their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Bank of America raised 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. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group lifted their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.45.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred 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 SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on 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 owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 0.6 %

Truist Financial stock opened at $41.65 on Thursday. The business has a 50 day moving average price of $42.41 and a two-hundred day moving average price of $39.21. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market cap of $55.78 billion, a price-to-earnings ratio of -31.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31.

Truist Financial (NYSE:TFC) last released its quarterly earnings data 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. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue was down 15.9% compared to the same quarter last year. As a group, equities analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.99%. Truist Financial’s dividend payout ratio is currently -157.58%.

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.