Impact Partnership Wealth LLC Buys 2,175 Shares of Truist Financial Co. (NYSE:TFC)

Impact Partnership Wealth LLC increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 12.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,572 shares of the insurance provider’s stock after purchasing an additional 2,175 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Truist Financial were worth $760,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TFC. TD Asset Management Inc raised its position in shares of Truist Financial by 15.6% during the second quarter. TD Asset Management Inc now owns 686,042 shares of the insurance provider’s stock worth $26,653,000 after acquiring an additional 92,476 shares during the last quarter. Community Bank & Trust Waco Texas boosted its stake in shares of Truist Financial by 42.2% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 9,580 shares of the insurance provider’s stock valued at $372,000 after purchasing an additional 2,842 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Truist Financial by 22.8% during the 2nd quarter. Larson Financial Group LLC now owns 2,454 shares of the insurance provider’s stock worth $95,000 after buying an additional 456 shares during the period. Archer Investment Corp raised its stake in shares of Truist Financial by 15.8% during the second quarter. Archer Investment Corp now owns 13,409 shares of the insurance provider’s stock worth $521,000 after buying an additional 1,831 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Truist Financial by 0.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 114,915 shares of the insurance provider’s stock valued at $4,464,000 after acquiring an additional 918 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TFC. Keefe, Bruyette & Woods raised their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America boosted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group raised their price objective on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $45.30.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 0.3 %

TFC traded down $0.11 during trading hours on Thursday, hitting $43.51. 90,812 shares of the company’s stock were exchanged, compared to its average volume of 8,282,898. The stock has a market cap of $58.27 billion, a price-to-earnings ratio of -33.05, a PEG ratio of 2.09 and a beta of 1.06. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The stock’s 50-day moving average is $42.07 and its two-hundred day moving average is $38.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. Sell-side analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

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.