Truist Financial Corporation $TFC Shares Sold by Iowa State Bank

Iowa State Bank lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 2.0% in the second quarter, Holdings Channel reports. The institutional investor owned 89,573 shares of the insurance provider’s stock after selling 1,843 shares during the quarter. Iowa State Bank’s holdings in Truist Financial were worth $3,851,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Preservation Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth $25,000. Centennial Bank AR grew its stake in Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares in the last quarter. Motco grew its stake in Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Truist Financial by 115.3% in the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after buying an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC raised its stake in Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after buying an additional 352 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction on 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 transaction, the insider owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Truist Financial Trading Up 0.4%

Shares of NYSE:TFC opened at $45.53 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $45.15 and its 200 day moving average price is $42.08. The company has a market cap of $58.71 billion, a PE ratio of 12.41, a P/E/G ratio of 1.46 and a beta of 0.88. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.Truist Financial’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. Sell-side analysts anticipate 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. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.6%. Truist Financial’s payout ratio is presently 56.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TFC shares. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Keefe, Bruyette & Woods lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research note on Wednesday, July 9th. Raymond James Financial raised shares of 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. Finally, Morgan Stanley lifted their price target on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.89.

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.