Trust Co of the South Purchases 547 Shares of Truist Financial Co. (NYSE:TFC)

Trust Co of the South boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,900 shares of the insurance provider’s stock after acquiring an additional 547 shares during the quarter. Trust Co of the South’s holdings in Truist Financial were worth $1,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Counsel Inc boosted its stake in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after purchasing an additional 244 shares during the period. Verum Partners LLC grew its stake in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after acquiring an additional 261 shares in the last quarter. CX Institutional increased its position in shares of Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 263 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of Truist Financial by 1.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock valued at $722,000 after acquiring an additional 274 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Truist Financial by 2.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock valued at $557,000 after purchasing an additional 275 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TFC. Argus raised their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Royal Bank of Canada boosted their price target on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.45.

Truist Financial Stock Performance

TFC opened at $41.78 on Thursday. The company has a market cap of $55.95 billion, a P/E ratio of -31.65, a price-to-earnings-growth ratio of 1.95 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. The firm’s 50-day moving average price is $42.69 and its 200-day moving average price is $39.86. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for 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 EPS. 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 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. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.98%. Truist Financial’s dividend payout ratio is currently -157.58%.

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.