Colonial Trust Advisors Acquires 7,887 Shares of Truist Financial Corporation $TFC

Colonial Trust Advisors raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 8.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 105,654 shares of the insurance provider’s stock after acquiring an additional 7,887 shares during the period. Colonial Trust Advisors’ holdings in Truist Financial were worth $4,348,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Navigoe LLC acquired a new position in Truist Financial in the fourth quarter valued at about $26,000. Centennial Bank AR boosted its stake in 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 acquiring an additional 580 shares during the last quarter. Motco grew its holdings in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. increased its stake in Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC boosted its position in shares of Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 0.1%

Truist Financial stock opened at $44.37 on Tuesday. The company has a market cap of $57.21 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.66 and a beta of 0.87. The firm has a 50-day moving average of $43.39 and a 200-day moving average of $41.81. 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 Corporation has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. On average, equities analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on TFC. Argus set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 21st. TD Cowen started coverage on Truist Financial in a research report on Thursday, May 15th. They set a “hold” rating and a $44.00 price target on the stock. Barclays cut their price objective on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a report on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.65.

Insider Transactions at Truist Financial

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 owned 500 shares in the company, valued at $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

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.