Truist Financial Corporation $TFC Shares Purchased by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co raised its stake in shares of Truist Financial Corporation (NYSE:TFC) by 49.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,536 shares of the insurance provider’s stock after purchasing an additional 2,485 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Truist Financial were worth $324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Klingman & Associates LLC increased its position in Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 248 shares during the last quarter. Haverford Trust Co grew its stake in Truist Financial by 3.5% during the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock worth $319,000 after buying an additional 262 shares during the period. Manchester Capital Management LLC grew its stake in Truist Financial by 8.0% during the first quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider’s stock worth $160,000 after buying an additional 288 shares during the period. Ballast Inc. grew its stake in Truist Financial by 0.7% during the first quarter. Ballast Inc. now owns 39,348 shares of the insurance provider’s stock worth $1,619,000 after buying an additional 290 shares during the period. Finally, Integrated Advisors Network LLC grew its stake in Truist Financial by 4.8% during the fourth quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider’s stock worth $274,000 after buying an additional 291 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TFC. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Raymond James Financial upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Tuesday, July 8th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research note on Wednesday, July 9th. Finally, Morgan Stanley restated a “mixed” rating on shares of Truist Financial in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.47.

Truist Financial Trading Down 0.2%

TFC opened at $45.22 on Friday. The stock has a market capitalization of $58.30 billion, a PE ratio of 12.32, a P/E/G ratio of 1.69 and a beta of 0.88. The firm’s fifty day moving average price is $45.02 and its 200 day moving average price is $41.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06.

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

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.6%. Truist Financial’s dividend payout ratio is currently 56.68%.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction 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 sale, the insider directly owned 500 shares of the company’s stock, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

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.