Abundance Wealth Counselors Acquires 723 Shares of Truist Financial Corporation $TFC

Abundance Wealth Counselors increased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,886 shares of the insurance provider’s stock after purchasing an additional 723 shares during the quarter. Abundance Wealth Counselors’ holdings in Truist Financial were worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Truist Financial Stock Down 0.5%

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

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

Truist Financial Announces Dividend

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

Insider Activity

In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a report on Wednesday, July 9th. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Tuesday, July 8th. Morgan Stanley increased their target price on Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.89.

About Truist Financial

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.