Trust Investment Advisors Has $773,000 Position in Truist Financial Co. (NYSE:TFC)

Trust Investment Advisors lifted its holdings in Truist Financial Co. (NYSE:TFC) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,903 shares of the insurance provider’s stock after purchasing an additional 872 shares during the period. Trust Investment Advisors’ holdings in Truist Financial were worth $773,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TFC. Crewe Advisors LLC bought a new position in Truist Financial in the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter worth $29,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial during the 2nd quarter valued at $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial during the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired 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 directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William H. Rogers, Jr. purchased 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 completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were 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. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TFC. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Bank of America boosted their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays upped their target price on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.45.

Truist Financial Stock Up 2.2 %

Shares of TFC opened at $42.95 on Friday. The company has a market capitalization of $57.47 billion, a P/E ratio of -32.54, a PEG ratio of 1.98 and a beta of 1.06. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The business’s 50 day simple moving average is $42.78 and its 200-day simple moving average is $39.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.84%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is presently -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.