Truist Financial Corporation $TFC Shares Sold by Roxbury Financial LLC

Roxbury Financial LLC trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,348 shares of the insurance provider’s stock after selling 467 shares during the period. Roxbury Financial LLC’s holdings in Truist Financial were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TFC. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth $25,000. Centennial Bank AR increased its holdings in shares of Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after buying an additional 580 shares during the last quarter. Motco increased its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after buying an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC increased its holdings in shares of Truist Financial by 64.4% during the 1st 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. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

NYSE:TFC opened at $45.22 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average of $45.02 and a two-hundred day moving average of $41.72. The stock has a market cap of $58.30 billion, a P/E ratio of 12.32, a PEG ratio of 1.69 and a beta of 0.88. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business’s quarterly revenue was down 406.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. On average, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio is presently 56.68%.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares of the company’s stock, valued at $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. Morgan Stanley restated a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a report on Wednesday, July 9th. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Tuesday, July 8th. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.47.

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.