Patriot Financial Group Insurance Agency LLC Acquires 275 Shares of Truist Financial Co. (NYSE:TFC)

Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 14,339 shares of the insurance provider’s stock after acquiring an additional 275 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Truist Financial were worth $557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 2nd quarter worth approximately $30,000. Rise Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $32,000. Finally, Missouri Trust & Investment Co raised its position in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research analyst reports. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and lifted their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group lifted their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.30.

Truist Financial Stock Up 0.2 %

TFC stock traded up $0.08 on Wednesday, hitting $43.99. 1,382,115 shares of the company’s stock were exchanged, compared to its average volume of 8,358,512. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The firm has a 50 day moving average price of $41.05 and a two-hundred day moving average price of $38.60. 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 stock has a market cap of $58.86 billion, a P/E ratio of -33.27, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. As a group, equities research analysts expect that Truist Financial Co. will post 3.56 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.73%. Truist Financial’s payout ratio is presently -157.58%.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, 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. Company insiders own 0.17% of the company’s stock.

Truist Financial 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.