First Foundation Advisors Sells 1,248 Shares of Truist Financial Co. (NYSE:TFC)

First Foundation Advisors lessened its holdings in Truist Financial Co. (NYSE:TFC) by 41.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,771 shares of the insurance provider’s stock after selling 1,248 shares during the period. First Foundation Advisors’ holdings in Truist Financial were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TFC. Crewe Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the 2nd quarter worth approximately $30,000. Missouri Trust & Investment Co lifted its stake in shares of Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth approximately $32,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TFC shares. Bank of America raised their target price 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. Royal Bank of Canada lifted 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. Morgan Stanley lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday. One equities 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, the stock has an average rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’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 legal filing with the SEC, which is available at the SEC website. In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost 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 owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Cynthia B. Powell sold 6,688 shares of the business’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 disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 1.6 %

Shares of TFC opened at $41.92 on Wednesday. The company’s fifty day moving average is $42.35 and its 200 day moving average is $39.20. 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 market capitalization of $56.09 billion, a PE ratio of -31.76, a P/E/G ratio of 1.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last announced 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 company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. Sell-side analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed 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 4.96%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.