Truist Financial Co. (NYSE:TFC) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,742 shares of the insurance provider’s stock after selling 1,506 shares during the period. Wealthspire Advisors LLC’s holdings in Truist Financial were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TFC. Crewe Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter valued at about $29,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the second quarter worth about $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial during the second quarter worth about $31,000. Finally, Rise Advisors LLC acquired a new position in Truist Financial during the first quarter worth about $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction 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 currently owned by insiders.

Truist Financial Trading Up 0.5 %

NYSE TFC opened at $41.84 on Monday. The company 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 12 month low of $26.57 and a 12 month high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average of $42.53 and a 200-day moving average of $39.34.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TFC shares. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Bank of America raised their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group boosted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Argus raised their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.45.

Truist Financial Company 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.