Truist Financial Co. (NYSE:TFC) Shares Purchased by Waverly Advisors LLC

Waverly Advisors LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,234 shares of the insurance provider’s stock after acquiring an additional 1,112 shares during the quarter. Waverly Advisors LLC’s holdings in Truist Financial were worth $2,270,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in Truist Financial in the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Truist Financial in the first quarter valued at approximately $29,000. Missouri Trust & Investment Co boosted its position in 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 in the last quarter. Rise Advisors LLC purchased a new stake in Truist Financial in the 1st quarter worth approximately $32,000. Finally, Morton Brown Family Wealth LLC grew its stake in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TFC shares. 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 research note on Wednesday, July 17th. Argus raised their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Jefferies Financial Group raised their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.30.

Truist Financial Trading Up 1.0 %

Shares of NYSE TFC traded up $0.44 during trading on Tuesday, hitting $44.90. 3,817,826 shares of the company were exchanged, compared to its average volume of 8,484,723. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.02. 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 fifty day moving average price of $38.92 and a 200-day moving average price of $37.80. The firm has a market capitalization of $60.08 billion, a PE ratio of -33.86, a P/E/G ratio of 2.07 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted its quarterly 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. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. As a group, equities research analysts expect that Truist Financial Co. will post 3.57 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.63%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Activity at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the business’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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction on 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 transaction, 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 owned by insiders.

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.