One Wealth Advisors LLC Takes $493,000 Position in Truist Financial Corporation $TFC

One Wealth Advisors LLC acquired a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,888 shares of the insurance provider’s stock, valued at approximately $493,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in Truist Financial in the fourth quarter valued at about $25,000. Swiss RE Ltd. bought a new position in shares of Truist Financial in the fourth quarter worth about $26,000. McMillan Office Inc. bought a new position in shares of Truist Financial in the fourth quarter worth about $31,000. Ancora Advisors LLC lifted its holdings in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 500 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TFC. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Royal Bank Of Canada increased their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Evercore restated an “outperform” rating and issued a $57.00 target price on shares of Truist Financial in a research report on Monday, July 6th. Bank of America reaffirmed a “neutral” rating and set a $56.00 target price (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $54.00 price target (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $54.67.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,986 shares of Truist Financial stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the transaction, the director owned 10,270 shares in the company, valued at approximately $520,689. The trade was a 27.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of Truist Financial stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider owned 56,009 shares in the company, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,516 shares of company stock valued at $1,584,428 in the last ninety days. 0.15% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Shares of TFC stock opened at $53.08 on Friday. The firm has a market capitalization of $64.84 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.12 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $51.13 and its 200-day moving average price is $49.80. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19.

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

Truist Financial Dividend Announcement

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

Truist Financial 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.