Ballast Inc. Sells 540 Shares of Truist Financial Co. (NYSE:TFC)

Ballast Inc. reduced its stake in Truist Financial Co. (NYSE:TFC) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,101 shares of the insurance provider’s stock after selling 540 shares during the quarter. Ballast Inc.’s holdings in Truist Financial were worth $1,758,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in Truist Financial during the first quarter valued at about $29,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the second quarter valued at about $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the second quarter worth about $31,000. Finally, Rise Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter worth about $32,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $42.95 on Friday. The stock has a market capitalization of $57.52 billion, a price-to-earnings ratio of -26.51, a P/E/G ratio of 1.82 and a beta of 1.05. The firm’s 50-day moving average price is $42.63 and its two-hundred day moving average price is $40.25. 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 1-year low of $26.95 and a 1-year high of $45.31.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating 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 positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s revenue was down 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.95 EPS. On average, equities analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.84%. Truist Financial’s dividend payout ratio (DPR) is -128.40%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TFC. The Goldman Sachs Group lowered their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday. Compass Point boosted their target price on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday. Morgan Stanley increased their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Bank of America boosted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.97.

Insiders Place Their Bets

In other Truist Financial 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired 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 directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the business’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 disclosure for this sale can be found here. 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.