Country Club Bank Sells 3,771 Shares of Truist Financial Corporation $TFC

Country Club Bank trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,340 shares of the insurance provider’s stock after selling 3,771 shares during the period. Country Club Bank’s holdings in Truist Financial were worth $4,787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter valued at about $25,000. Centennial Bank AR lifted its stake in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 580 shares during the last quarter. Motco grew its holdings in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. grew its holdings in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 468 shares during the period. Finally, Sierra Ocean LLC increased its position in Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after buying an additional 352 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TFC. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Tuesday, July 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research report on Saturday, September 27th. Finally, Evercore ISI raised 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 note on Tuesday, September 30th. Two equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.89.

Truist Financial Stock Down 0.3%

TFC opened at $45.39 on Tuesday. The stock has a fifty day moving average of $45.15 and a 200-day moving average of $42.11. The company has a market capitalization of $58.53 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.46 and a beta of 0.88. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings results 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 business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the prior year, the business posted $0.91 earnings per share. Truist Financial’s revenue was down 406.0% compared to the same quarter last year. On average, 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. Stockholders of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial’s payout ratio is presently 56.68%.

Insider Activity

In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction that occurred 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 sale, the insider owned 500 shares of the company’s stock, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

About Truist Financial

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.