Cwm LLC Acquires 9,769 Shares of Truist Financial Co. (NYSE:TFC)

Cwm LLC raised its holdings in Truist Financial Co. (NYSE:TFC) by 25.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 47,534 shares of the insurance provider’s stock after buying an additional 9,769 shares during the period. Cwm LLC’s holdings in Truist Financial were worth $2,033,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TFC. Crewe Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter worth $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter worth $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the 2nd quarter worth $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial during the 2nd quarter worth $31,000. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter worth $32,000. Institutional investors own 71.28% of the company’s stock.

Insider Activity

In other news, 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 value of $295,208.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value 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 Stock Up 0.8 %

Shares of TFC opened at $43.61 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12 month low of $26.95 and a 12 month high of $45.31. The stock’s 50 day moving average is $42.50 and its two-hundred day moving average is $40.17. The firm has a market cap of $58.35 billion, a P/E ratio of -33.04, a PEG ratio of 1.78 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 period last year, the company earned $0.95 earnings per share. Truist Financial’s quarterly revenue was down 15.9% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.77%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TFC. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada increased their price target on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley raised their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $45.45.

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.