Truist Financial (NYSE:TFC) Director K. David Jr. Boyer Sells 3,986 Shares

Truist Financial Corporation (NYSE:TFC) Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total transaction of $202,090.20. Following the sale, the director directly owned 10,270 shares in the company, valued at approximately $520,689. The trade was a 27.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Truist Financial Stock Up 1.7%

Shares of NYSE:TFC opened at $53.02 on Wednesday. Truist Financial Corporation has a 52-week low of $40.78 and a 52-week high of $56.19. The company has a market capitalization of $66.06 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average of $50.04 and a 200-day moving average of $49.58.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.Truist Financial’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, equities analysts predict that Truist Financial Corporation will post 4.59 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 3.9%. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Analyst Ratings Changes

TFC has been the topic of several research reports. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. Raymond James Financial reiterated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Robert W. Baird lifted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and an average price target of $54.61.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently made changes to their positions in the stock. 3Chopt Investment Partners LLC lifted its stake in shares of Truist Financial by 1.3% in the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares during the period. IFP Advisors Inc increased its position in Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 194 shares during the period. PCB Capital LLC increased its position in Truist Financial by 3.0% during the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after purchasing an additional 198 shares during the period. AlphaCore Capital LLC raised its holdings in Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 199 shares during the last quarter. Finally, CYBER HORNET ETFs LLC raised its holdings in Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.