Truist Financial (NYSE:TFC) Insider Donta Wilson Sells 13,280 Shares of Stock

Truist Financial Corporation (NYSE:TFC) insider Donta Wilson sold 13,280 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the transaction, the insider owned 56,009 shares in the company, valued at $2,904,066.65. The trade was a 19.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Truist Financial Stock Up 1.4%

TFC opened at $52.64 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $50.42 and a 200-day simple moving average of $49.65. The stock has a market capitalization of $64.30 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.94 and a beta of 0.89. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities analysts anticipate that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio is 47.71%.

Institutional Investors Weigh In On Truist Financial

Large investors have recently added to or reduced their stakes in the business. Pinnacle Financial Partners Inc. increased its position in Truist Financial by 30.0% during the third quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after buying an additional 40,393 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Truist Financial by 91.9% during the fourth quarter. Ritholtz Wealth Management now owns 45,749 shares of the insurance provider’s stock valued at $2,251,000 after acquiring an additional 21,903 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Truist Financial by 531.8% during the first quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock valued at $20,059,000 after acquiring an additional 367,291 shares during the last quarter. LBP AM SA purchased a new stake in Truist Financial during the 4th quarter worth about $10,836,000. Finally, Carnegie Investment Counsel increased its position in Truist Financial by 57.8% during the 4th quarter. Carnegie Investment Counsel now owns 105,792 shares of the insurance provider’s stock worth $5,206,000 after purchasing an additional 38,750 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFC. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $63.00 to $54.00 in a report on Tuesday, June 30th. Morgan Stanley restated an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Evercore reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Truist Financial in a report on Monday, July 6th. Bank of America reiterated a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average target price of $54.67.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.