First County Bank CT Sells 1,272 Shares of Truist Financial Corporation $TFC

First County Bank CT trimmed its position in Truist Financial Corporation (NYSE:TFC) by 7.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,391 shares of the insurance provider’s stock after selling 1,272 shares during the quarter. First County Bank CT’s holdings in Truist Financial were worth $705,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at approximately $25,000. Centennial Bank AR raised its stake in 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 purchasing an additional 580 shares in the last quarter. Motco increased its holdings in shares of Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after buying an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC increased its position in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 352 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on TFC shares. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a report on Wednesday, July 9th. Raymond James Financial upgraded 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. Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Two investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.47.

Truist Financial Trading Up 0.7%

Shares of Truist Financial stock opened at $46.06 on Monday. The firm has a market capitalization of $59.39 billion, a PE ratio of 12.55, a P/E/G ratio of 1.48 and a beta of 0.88. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The firm’s 50-day moving average price is $45.12 and its 200 day moving average price is $41.92. 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 announced 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 net margin of 16.82% and a return on equity of 8.69%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the company earned $0.91 EPS. Truist Financial’s revenue was down 406.0% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. 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 56.68%.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

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.