Truist Financial (NYSE:TFC) Stock: Insider Michael Lyons Buys 25,000 Shares

Truist Financial Corporation (NYSE:TFC) CEO Michael Lyons bought 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was purchased at an average cost of $48.36 per share, with a total value of $1,209,000.00. Following the purchase, the chief executive officer directly owned 46,000 shares in the company, valued at $2,224,560. The trade was a 119.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Truist Financial Price Performance

NYSE:TFC opened at $48.74 on Friday. The firm has a market cap of $59.54 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.08 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average is $48.39 and its two-hundred day moving average is $49.50. Truist Financial Corporation has a 12-month low of $43.13 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. Research analysts expect that Truist Financial Corporation will post 4.71 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is 53.61%.

Institutional Trading of Truist Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Truist Financial in the second quarter valued at about $4,959,834,000. State Street Corp lifted its position in Truist Financial by 0.9% during the 2nd quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock worth $2,924,066,000 after acquiring an additional 501,026 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Truist Financial by 7.5% in the 1st quarter. Bank of New York Mellon Corp now owns 11,289,721 shares of the insurance provider’s stock worth $518,988,000 after acquiring an additional 789,179 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Truist Financial by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,608,268 shares of the insurance provider’s stock worth $395,642,000 after acquiring an additional 164,052 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Truist Financial by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 7,853,887 shares of the insurance provider’s stock worth $391,281,000 after acquiring an additional 44,215 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TFC shares. Wells Fargo & Company set a $52.00 target price on Truist Financial in a research note on Thursday, October 8th. Stephens reduced their target price on Truist Financial from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. JPMorgan Chase & Co. raised their price target on Truist Financial from $50.50 to $51.50 and gave the stock an “underweight” rating in a research note on Friday. Morgan Stanley cut Truist Financial from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $62.00 to $54.00 in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Truist Financial from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus price target of $53.82.

Truist Financial Company Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.