Crews Bank & Trust Sells 4,070 Shares of Truist Financial Corporation $TFC

Crews Bank & Trust reduced its stake in Truist Financial Corporation (NYSE:TFC) by 10.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 34,744 shares of the insurance provider’s stock after selling 4,070 shares during the period. Crews Bank & Trust’s holdings in Truist Financial were worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TFC. Brighton Jones LLC raised its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Truist Financial by 31.3% during the first quarter. Merit Financial Group LLC now owns 51,203 shares of the insurance provider’s stock valued at $2,107,000 after purchasing an additional 12,202 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Truist Financial by 10.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 35,683 shares of the insurance provider’s stock valued at $1,468,000 after purchasing an additional 3,508 shares in the last quarter. Apella Capital LLC bought a new position in shares of Truist Financial during the first quarter valued at approximately $277,000. Finally, HF Advisory Group LLC increased its stake in shares of Truist Financial by 14.2% during the first quarter. HF Advisory Group LLC now owns 40,096 shares of the insurance provider’s stock valued at $1,650,000 after purchasing an additional 4,979 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 0.5%

NYSE:TFC opened at $45.35 on Friday. The company’s 50 day moving average price is $45.15 and its 200-day moving average price is $42.04. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market cap of $58.47 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.46 and a beta of 0.88.

Truist Financial (NYSE:TFC) last posted 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 net margin of 16.82% and a return on equity of 8.69%. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The company’s quarterly revenue was down 406.0% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Evercore ISI raised their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research note on Wednesday, July 9th. Finally, Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.89.

Truist Financial 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.