Truist Financial Co. (NYSE:TFC) Director Sells $229,429.20 in Stock

Truist Financial Co. (NYSE:TFC) Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Truist Financial Stock Down 0.7 %

NYSE:TFC traded down $0.32 during trading hours on Friday, hitting $46.85. 612,097 shares of the company traded hands, compared to its average volume of 8,236,468. Truist Financial Co. has a one year low of $33.36 and a one year high of $49.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market cap of $62.19 billion, a PE ratio of -32.86, a PEG ratio of 1.91 and a beta of 1.06. The firm’s 50-day simple moving average is $44.60 and its 200-day simple moving average is $42.00.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Equities analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.44%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the 3rd quarter worth about $26,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the second quarter worth approximately $31,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial in the third quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC raised its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. UBS Group upped their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.67.

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.