Truist Financial Co. (NYSE:TFC) Shares Sold by Thomasville National Bank

Thomasville National Bank lowered its position in Truist Financial Co. (NYSE:TFC) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,647 shares of the insurance provider’s stock after selling 6,408 shares during the period. Thomasville National Bank’s holdings in Truist Financial were worth $3,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors grew its holdings in shares of Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares during the period. Legal & General Group Plc grew its holdings in Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after buying an additional 103,565 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. Truist Financial Corp grew its holdings in Truist Financial by 6.7% during the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after buying an additional 311,523 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after buying an additional 1,261,598 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 1.8 %

Shares of TFC opened at $43.26 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $57.93 billion, a P/E ratio of -26.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05. The stock’s fifty day simple moving average is $42.45 and its 200 day simple moving average is $40.13. Truist Financial Co. has a twelve month low of $26.95 and a twelve month high of $45.31.

Truist Financial (NYSE:TFC) last released 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 posted $0.95 earnings per share. The firm’s revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -128.40%.

Analyst Ratings Changes

A number of brokerages have commented on TFC. The Goldman Sachs Group increased their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Bank of America increased their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley increased their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the firm’s 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 document filed with the SEC, which is available through the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired 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 trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

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.