Cyndeo Wealth Partners LLC Has $820,000 Stock Position in Truist Financial Corporation $TFC

Cyndeo Wealth Partners LLC lowered its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 89.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 19,065 shares of the insurance provider’s stock after selling 163,089 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Truist Financial were worth $820,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TFC. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter worth $25,000. Centennial Bank AR raised its holdings 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 buying an additional 580 shares in the last quarter. Motco raised its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares in the last quarter. Ramirez Asset Management Inc. raised its holdings in shares of Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after buying an additional 300 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Truist Financial by 115.3% during 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 in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider owned 500 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 4.4%

Shares of NYSE:TFC opened at $42.32 on Friday. The business’s 50 day simple moving average is $45.16 and its two-hundred day simple moving average is $42.16. The firm has a market cap of $54.57 billion, a P/E ratio of 11.53, a PEG ratio of 1.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly 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). The firm had revenue of $5.04 billion during 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%.The firm’s revenue was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.9%. Truist Financial’s dividend payout ratio is presently 56.68%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday. Evercore ISI upped their price target on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research report on Tuesday. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $55.00 in a research report 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 given a Hold rating to the company. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $48.89.

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.