Centurion Wealth Management LLC Has $636,000 Stock Holdings in Truist Financial Corporation $TFC

Centurion Wealth Management LLC lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 5.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,798 shares of the insurance provider’s stock after purchasing an additional 808 shares during the period. Centurion Wealth Management LLC’s holdings in Truist Financial were worth $636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Code Waechter LLC purchased a new stake in Truist Financial in the 1st quarter worth about $365,000. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in Truist Financial by 4.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider’s stock worth $17,927,000 after acquiring an additional 19,286 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in Truist Financial by 55.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock worth $5,530,000 after acquiring an additional 47,717 shares in the last quarter. Credit Agricole S A increased its position in Truist Financial by 76.4% in the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after purchasing an additional 216,672 shares during the last quarter. Finally, Adapt Wealth Advisors LLC increased its position in Truist Financial by 78.9% in the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock worth $842,000 after purchasing an additional 9,021 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the sale, the insider directly owned 500 shares of the company’s stock, valued at $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

Shares of TFC stock opened at $45.22 on Friday. The stock has a 50 day moving average of $45.02 and a two-hundred day moving average of $41.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market capitalization of $58.30 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.69 and a beta of 0.88.

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

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is currently 56.68%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Tuesday, July 8th. Morgan Stanley reaffirmed a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.47.

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.