Southern Capital Advisors LLC Has $2.08 Million Holdings in Truist Financial Corporation $TFC

Southern Capital Advisors LLC increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,446 shares of the insurance provider’s stock after buying an additional 1,255 shares during the quarter. Truist Financial accounts for about 1.1% of Southern Capital Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Southern Capital Advisors LLC’s holdings in Truist Financial were worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at $25,000. Centennial Bank AR increased its position in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares in the last quarter. Motco lifted its holdings in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after buying an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC boosted its position in Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after buying an additional 352 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 0.3%

NYSE:TFC opened at $45.75 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day simple moving average is $45.09 and its 200-day simple moving average is $41.85. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock has a market capitalization of $58.99 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (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 business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the company posted $0.91 earnings per share. Truist Financial’s revenue for the quarter was down 406.0% compared to the same quarter last year. Sell-side analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s payout ratio is currently 56.68%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

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.