5,846 Shares in Truist Financial Corporation $TFC Purchased by Patton Fund Management Inc.

Patton Fund Management Inc. bought a new position in Truist Financial Corporation (NYSE:TFC) during the second quarter, Holdings Channel reports. The firm bought 5,846 shares of the insurance provider’s stock, valued at approximately $251,000.

Other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank grew its position in Truist Financial by 8.6% in the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 948 shares in the last quarter. Code Waechter LLC bought a new position in Truist Financial in the 1st quarter worth approximately $365,000. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in Truist Financial by 4.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider’s stock worth $17,927,000 after buying an additional 19,286 shares during the period. Pinnacle Financial Partners Inc lifted its stake in Truist Financial by 55.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock worth $5,530,000 after purchasing an additional 47,717 shares in the last quarter. Finally, Credit Agricole S A lifted its stake in Truist Financial by 76.4% in the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after purchasing an additional 216,672 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.7%

NYSE:TFC opened at $46.06 on Friday. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. 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 company’s 50-day simple moving average is $45.12 and its 200 day simple moving average is $41.91. The firm has a market capitalization of $59.39 billion, a P/E ratio of 12.55, a PEG ratio of 1.48 and a beta of 0.88.

Truist Financial (NYSE:TFC) last issued its 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). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was down 406.0% on a year-over-year basis. As a group, 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 Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.5%. Truist Financial’s dividend payout ratio (DPR) is 56.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on TFC shares. Morgan Stanley restated a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a research report on Wednesday, July 9th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Raymond James Financial upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, July 8th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $48.47.

Insider Buying and Selling at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the 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 owned 500 shares of the company’s stock, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

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.