Rhumbline Advisers Has $102.68 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Rhumbline Advisers grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,643,069 shares of the insurance provider’s stock after buying an additional 11,894 shares during the quarter. Rhumbline Advisers owned 0.20% of Truist Financial worth $102,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TFC. Crewe Advisors LLC bought a new stake in Truist Financial during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in Truist Financial during the first quarter worth $29,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial in the 2nd quarter valued at $30,000. Rise Advisors LLC bought a new position in Truist Financial during the 1st quarter valued at $32,000. Finally, Missouri Trust & Investment Co boosted its holdings in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated 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 SEC, which is available at the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the firm’s 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The stock was acquired 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented 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. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Evercore ISI restated an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a research note on Thursday, May 9th. Finally, Argus boosted their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.30.

Truist Financial Stock Down 0.5 %

TFC stock opened at $44.25 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $59.25 billion, a price-to-earnings ratio of -33.52, a PEG ratio of 2.09 and a beta of 1.06. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The stock has a fifty day moving average of $41.93 and a 200-day moving average of $38.95.

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

Truist Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.70%. Truist Financial’s dividend payout ratio (DPR) is -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.