Apollon Wealth Management LLC Has $2.37 Million Stake in Truist Financial Corporation $TFC

Apollon Wealth Management LLC increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 55,048 shares of the insurance provider’s stock after acquiring an additional 1,936 shares during the period. Apollon Wealth Management LLC’s holdings in Truist Financial were worth $2,367,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the first quarter worth $25,000. Centennial Bank AR boosted its holdings in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the last quarter. Motco raised its position in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares in the last quarter. Ramirez Asset Management Inc. raised its position in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 468 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider directly owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several analyst reports. 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 upped 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 report on Monday, September 29th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Evercore ISI upped their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Two 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 company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $48.89.

Truist Financial Price Performance

Shares of TFC opened at $42.32 on Monday. The firm has a market capitalization of $54.57 billion, a PE ratio of 11.53, a PEG ratio of 1.35 and a beta of 0.88. The company’s 50-day moving average is $45.16 and its 200-day moving average is $42.17. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week 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.

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 the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. Truist Financial’s revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is currently 56.68%.

Truist Financial Company 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.