Pine Valley Investments Ltd Liability Co Sells 278 Shares of Truist Financial Co. (NYSE:TFC)

Pine Valley Investments Ltd Liability Co cut its holdings in Truist Financial Co. (NYSE:TFC) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,590 shares of the insurance provider’s stock after selling 278 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Truist Financial were worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Truist Financial during the 4th quarter worth $822,000. Choreo LLC raised its position in Truist Financial by 45.4% in the fourth quarter. Choreo LLC now owns 21,752 shares of the insurance provider’s stock worth $803,000 after acquiring an additional 6,789 shares during the period. Certuity LLC bought a new stake in Truist Financial in the fourth quarter worth about $208,000. Brighton Jones LLC boosted its stake in Truist Financial by 9.9% in the fourth quarter. Brighton Jones LLC now owns 27,722 shares of the insurance provider’s stock valued at $1,024,000 after acquiring an additional 2,501 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of Truist Financial by 1.2% during the 4th quarter. Savant Capital LLC now owns 49,881 shares of the insurance provider’s stock valued at $1,842,000 after acquiring an additional 571 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TFC shares. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Wednesday, July 17th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective on shares of Truist Financial in a research note on Thursday, May 9th. Finally, Bank of America upped their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.30.

Truist Financial Price Performance

Shares of NYSE TFC opened at $44.46 on Friday. The stock’s 50-day simple moving average is $41.65 and its two-hundred day simple moving average is $38.78. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31. The firm has a market capitalization of $59.54 billion, a P/E ratio of -33.68, a P/E/G ratio of 2.08 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the business earned $0.95 earnings per share. Truist Financial’s revenue for the quarter was down 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

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.