Truist Financial Co. (NYSE:TFC) Position Lessened by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,603 shares of the insurance provider’s stock after selling 403 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Truist Financial were worth $490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFC. Crewe Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the second quarter worth approximately $30,000. Rise Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter worth $32,000. Finally, Missouri Trust & Investment Co raised its holdings in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TFC shares. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Barclays increased their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Bank of America boosted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.45.

Insider Transactions at Truist Financial

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

Truist Financial Price Performance

Shares of TFC stock opened at $41.65 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s fifty day simple moving average is $42.41 and its 200 day simple moving average is $39.21. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The firm has a market cap of $55.78 billion, a price-to-earnings ratio of -31.55, a P/E/G ratio of 1.97 and a beta of 1.06.

Truist Financial (NYSE:TFC) last posted its earnings results 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 business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

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.