Truist Financial (NYSE:TFC) CEO Sells $693,770.00 in Stock

Truist Financial Corporation (NYSE:TFC) CEO William Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Truist Financial Stock Performance

NYSE:TFC traded up $0.58 during trading hours on Tuesday, reaching $52.70. The company had a trading volume of 2,331,365 shares, compared to its average volume of 9,347,322. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The firm has a market cap of $65.66 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.94 and a beta of 0.89. The firm’s 50 day moving average price is $49.91 and its 200-day moving average price is $49.56.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. On average, analysts forecast that Truist Financial Corporation will post 4.59 EPS for the current year.

Hedge Funds Weigh In On Truist Financial

Several large investors have recently modified their holdings of the stock. Pinnacle Financial Partners Inc. raised its holdings in shares of Truist Financial by 30.0% in 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 during the period. Ritholtz Wealth Management boosted its holdings in Truist Financial by 91.9% during the 4th 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 period. Fifth Third Bancorp boosted its holdings in Truist Financial by 531.8% during the 1st 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 period. LBP AM SA bought a new position in Truist Financial in the 4th quarter valued at $10,836,000. Finally, Carnegie Investment Counsel grew its position in Truist Financial by 57.8% in the 4th quarter. Carnegie Investment Counsel now owns 105,792 shares of the insurance provider’s stock valued at $5,206,000 after acquiring an additional 38,750 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Royal Bank Of Canada boosted their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Stephens cut their price target on Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.61.

About Truist Financial

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.