Truist Financial Co. (NYSE:TFC) Stock Holdings Lessened by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH reduced its holdings in Truist Financial Co. (NYSE:TFC) by 11.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,847 shares of the insurance provider’s stock after selling 5,643 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Truist Financial were worth $1,918,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth about $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth about $29,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the 2nd quarter worth about $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial in the 2nd quarter worth about $31,000. Finally, Rise Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter worth about $32,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $41.78 on Thursday. The firm’s 50 day moving average is $42.69 and its 200-day moving average is $39.86. The stock has a market capitalization of $55.95 billion, a P/E ratio of -31.65, a P/E/G ratio of 1.95 and a beta of 1.06. 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 Co. has a 12-month low of $26.57 and a 12-month high of $45.31.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS 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 during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the company posted $0.95 earnings per share. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. Equities research analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.98%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TFC shares. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Bank of America increased their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Wednesday, July 17th. Barclays increased their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada increased their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One investment 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.45.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s 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 disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial 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.