NBT Bank N A NY Has $681,000 Holdings in Truist Financial Corporation $TFC

NBT Bank N A NY increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 15.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,849 shares of the insurance provider’s stock after acquiring an additional 2,158 shares during the quarter. NBT Bank N A NY’s holdings in Truist Financial were worth $681,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TFC. Wealth Preservation Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at approximately $25,000. Centennial Bank AR increased its stake in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after buying an additional 580 shares during the period. Motco increased its stake in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the period. Meeder Asset Management Inc. increased its stake in Truist Financial by 115.3% in the 1st 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 during the period. Finally, Sierra Ocean LLC increased its stake in Truist Financial by 64.4% in the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after buying an additional 352 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $44.16 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $45.16 and a 200 day simple moving average of $42.15. The company has a market cap of $56.94 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.45 and a beta of 0.88. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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 firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.Truist Financial’s quarterly revenue was down 406.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. On average, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio is currently 56.68%.

Insiders Place Their Bets

In other Truist Financial 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday. Morgan Stanley increased their price target on shares of Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.89.

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.