11,083 Shares in Truist Financial Corporation $TFC Acquired by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,083 shares of the insurance provider’s stock, valued at approximately $552,000.

Several other large investors have also modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new position in shares of Truist Financial in the 4th quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in Truist Financial during the 4th quarter worth about $26,000. N.E.W. Advisory Services LLC purchased a new position in shares of Truist Financial in the second quarter worth approximately $30,000. McMillan Office Inc. acquired a new stake in shares of Truist Financial during the fourth quarter valued at approximately $31,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 431 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

NYSE TFC opened at $53.08 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $64.84 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.12 and a beta of 0.89. The company has a 50 day simple moving average of $51.13 and a 200-day simple moving average of $49.80. Truist Financial Corporation has a 52-week low of $40.78 and a 52-week high of $56.19.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. Equities research analysts predict that Truist Financial Corporation will post 4.58 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. Truist Financial’s dividend payout ratio is 47.71%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent analyst reports. UBS Group lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted their target price on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, July 29th. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a research report on Wednesday, July 29th. Finally, Evercore reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Truist Financial in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $54.67.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donta L. Wilson sold 13,280 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is owned by insiders.

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.