NBT Bank N A NY Buys 2,158 Shares of Truist Financial Corporation $TFC

NBT Bank N A NY raised its stake in Truist Financial Corporation (NYSE:TFC) by 15.8% in the second quarter, Holdings Channel.com reports. The firm owned 15,849 shares of the insurance provider’s stock after acquiring an additional 2,158 shares during the period. NBT Bank N A NY’s holdings in Truist Financial were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TFC. Brighton Jones LLC boosted its holdings in Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the period. Park Avenue Securities LLC raised its stake in shares of Truist Financial by 12.8% in the 1st quarter. Park Avenue Securities LLC now owns 51,161 shares of the insurance provider’s stock valued at $2,105,000 after buying an additional 5,800 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Truist Financial by 42.3% in the 1st quarter. Farther Finance Advisors LLC now owns 20,464 shares of the insurance provider’s stock valued at $839,000 after buying an additional 6,088 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Truist Financial by 18.5% in the 1st quarter. Pallas Capital Advisors LLC now owns 10,856 shares of the insurance provider’s stock valued at $447,000 after buying an additional 1,695 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Truist Financial by 7.9% in the 1st quarter. GAMMA Investing LLC now owns 28,101 shares of the insurance provider’s stock valued at $1,156,000 after buying an additional 2,061 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 2.3%

TFC opened at $44.16 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $56.94 billion, a PE ratio of 12.03, a PEG ratio of 1.45 and a beta of 0.88. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The firm has a 50-day moving average price of $45.16 and a two-hundred day moving average price of $42.15.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company’s revenue was down 406.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, equities analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday. Morgan Stanley increased their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Evercore ISI increased their target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.89.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider owned 500 shares in the company, valued at approximately $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.