Weaver C. Barksdale & Associates Inc. Sells 491 Shares of Truist Financial Co. (NYSE:TFC)

Weaver C. Barksdale & Associates Inc. lessened its holdings in Truist Financial Co. (NYSE:TFC) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 24,422 shares of the insurance provider’s stock after selling 491 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Truist Financial were worth $949,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in shares of Truist Financial in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Truist Financial during the first quarter valued at $29,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the second quarter worth $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial in the second quarter worth $31,000. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial during the first quarter valued at $32,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

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

Truist Financial Price Performance

Shares of NYSE:TFC opened at $42.95 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $57.47 billion, a PE ratio of -32.54, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The firm’s 50 day moving average price is $42.78 and its 200-day moving average price is $39.48. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31.

Truist Financial (NYSE:TFC) last released its quarterly 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 the consensus estimate of $4.83 billion. During the same period last year, the firm earned $0.95 earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. Equities research analysts expect that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 4.84%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TFC shares. The Goldman Sachs Group upped their price target on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Morgan Stanley raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Barclays upped their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. 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 stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $45.45.

About Truist Financial

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.