Truist Financial Co. (NYSE:TFC) Shares Acquired by Quent Capital LLC

Quent Capital LLC lifted its holdings in Truist Financial Co. (NYSE:TFC) by 22.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,271 shares of the insurance provider’s stock after purchasing an additional 409 shares during the period. Quent Capital LLC’s holdings in Truist Financial were worth $88,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valmark Advisers Inc. lifted its holdings in shares of Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares in the last quarter. Texas Yale Capital Corp. boosted its stake in shares of Truist Financial by 2.4% during the 1st quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after buying an additional 280 shares during the period. Whalen Wealth Management Inc. grew its holdings in shares of Truist Financial by 4.8% during the 1st quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 288 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Truist Financial by 19.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock worth $70,000 after acquiring an additional 290 shares during the last quarter. Finally, St. Johns Investment Management Company LLC raised its holdings in shares of Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after acquiring an additional 296 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

TFC traded up $0.46 during midday trading on Tuesday, reaching $41.64. The company’s stock had a trading volume of 7,614,553 shares, compared to its average volume of 8,519,678. The company has a fifty day simple moving average of $39.37 and a 200 day simple moving average of $38.04. 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 twelve month low of $26.57 and a twelve month high of $45.31. The stock has a market cap of $55.72 billion, a P/E ratio of -31.55, a PEG ratio of 1.97 and a beta of 1.06.

Truist Financial (NYSE:TFC) last announced 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 during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the company earned $0.95 EPS. The company’s quarterly revenue was down 15.9% on a year-over-year basis. Research analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.00%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays upped their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Robert W. Baird downgraded 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. The Goldman Sachs Group lifted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. HSBC increased their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average target price of $45.30.

Insiders Place Their Bets

In other Truist Financial 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 transaction of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

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.