Main Street Financial Solutions LLC Grows Stake in Truist Financial Co. (NYSE:TFC)

Main Street Financial Solutions LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 13.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,212 shares of the insurance provider’s stock after acquiring an additional 720 shares during the period. Main Street Financial Solutions LLC’s holdings in Truist Financial were worth $241,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial in the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC purchased a new position in Truist Financial in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now 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 corporate insiders.

Truist Financial Stock Up 0.5 %

Shares of TFC opened at $41.84 on Friday. The firm has a market cap of $56.03 billion, a P/E ratio of -31.70, a P/E/G ratio of 1.95 and a beta of 1.06. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31. The stock has a 50 day simple moving average of $42.53 and a two-hundred day simple moving average of $39.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.95 EPS. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.45.

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.