San Luis Wealth Advisors LLC Purchases 23,050 Shares of Truist Financial Corporation $TFC

San Luis Wealth Advisors LLC grew its holdings in Truist Financial Corporation (NYSE:TFC) by 190.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,174 shares of the insurance provider’s stock after buying an additional 23,050 shares during the period. San Luis Wealth Advisors LLC’s holdings in Truist Financial were worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TFC. Patton Albertson Miller Group LLC grew its holdings in shares of Truist Financial by 4.1% during the second quarter. Patton Albertson Miller Group LLC now owns 24,860 shares of the insurance provider’s stock worth $1,069,000 after buying an additional 971 shares in the last quarter. Sonora Investment Management Group LLC boosted its holdings in Truist Financial by 4.5% in the 2nd quarter. Sonora Investment Management Group LLC now owns 357,388 shares of the insurance provider’s stock worth $15,364,000 after acquiring an additional 15,370 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Truist Financial by 1.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,140,991 shares of the insurance provider’s stock valued at $49,051,000 after purchasing an additional 18,286 shares during the period. Guyasuta Investment Advisors Inc. bought a new position in shares of Truist Financial in the 2nd quarter valued at approximately $506,000. Finally, Financial Partners Group LLC grew its position in Truist Financial by 29.9% in the second quarter. Financial Partners Group LLC now owns 45,982 shares of the insurance provider’s stock valued at $1,977,000 after acquiring an additional 10,596 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, insider Bradley D. Bender sold 12,540 shares of the business’s 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 sale, the insider directly owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $46.06 on Friday. The stock has a market cap of $59.39 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.48 and a beta of 0.88. 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 quick ratio of 0.86 and a current ratio of 0.86. The stock’s fifty day moving average is $45.12 and its 200 day moving average is $41.91.

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

Truist Financial Announces Dividend

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

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.