Truist Financial Co. (NYSE:TFC) Position Boosted by Ballew Advisors Inc

Ballew Advisors Inc increased its holdings in Truist Financial Co. (NYSE:TFC) by 64.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,218 shares of the insurance provider’s stock after purchasing an additional 3,616 shares during the quarter. Ballew Advisors Inc’s holdings in Truist Financial were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in Truist Financial in the first quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial in the first quarter worth approximately $29,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the second quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial in the second quarter worth approximately $31,000. Finally, Rise Advisors LLC acquired a new stake in Truist Financial in the first quarter worth approximately $32,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 1.8 %

Shares of TFC opened at $43.26 on Friday. The stock has a market cap of $57.93 billion, a price-to-earnings ratio of -26.70, a P/E/G ratio of 1.78 and a beta of 1.05. The company has a quick ratio of 0.86, a current 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 company has a 50-day moving average price of $42.45 and a two-hundred day moving average price of $40.12.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 earnings per share. Equities analysts predict that Truist Financial Co. will post 3.55 EPS 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 paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is currently -128.40%.

Insider Activity

In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price 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 of the company’s stock, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction 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. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America increased 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. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. 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. Barclays increased their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and a consensus 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.