Bradley D. Bender Sells 12,540 Shares of Truist Financial Corporation (NYSE:TFC) Stock

Truist Financial Corporation (NYSE:TFC) insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. This represents a 96.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Truist Financial Trading Up 0.3%

NYSE TFC opened at $45.64 on Friday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The stock has a market cap of $59.76 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.70 and a beta of 0.85. The stock’s fifty day moving average price is $42.08 and its 200-day moving average price is $42.11. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue was down 406.0% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.56%. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

Institutional Investors Weigh In On Truist Financial

Institutional investors have recently modified their holdings of the business. Navigoe LLC purchased a new stake in shares of Truist Financial during the fourth quarter valued at $26,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter valued at $25,000. Centennial Bank AR boosted its position in shares of Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after buying an additional 580 shares during the last quarter. Motco boosted its position in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the last quarter. Finally, Ramirez Asset Management Inc. boosted its position in shares of Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Stephens reduced their price target on Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Barclays reduced their price target on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $48.65.

About Truist Financial

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.