Wesbanco Bank Inc. Sells 13,624 Shares of Truist Financial Co. (NYSE:TFC)

Wesbanco Bank Inc. trimmed its position in Truist Financial Co. (NYSE:TFC) by 10.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,244 shares of the insurance provider’s stock after selling 13,624 shares during the quarter. Wesbanco Bank Inc.’s holdings in Truist Financial were worth $4,516,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Truist Financial by 3,359.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after buying an additional 1,015,338 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Truist Financial in the 4th quarter worth approximately $379,000. Stratos Wealth Partners LTD. increased its holdings in shares of Truist Financial by 7.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 65,720 shares of the insurance provider’s stock worth $2,426,000 after buying an additional 4,566 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Truist Financial by 22.5% during the 4th quarter. Meeder Advisory Services Inc. now owns 16,920 shares of the insurance provider’s stock worth $625,000 after acquiring an additional 3,103 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Transactions at Truist Financial

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

Truist Financial Trading Down 0.8 %

Shares of NYSE TFC opened at $41.74 on Friday. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average of $39.62 and a 200 day moving average of $38.12. The stock has a market cap of $55.85 billion, a P/E ratio of -31.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.98%. Truist Financial’s payout ratio is presently -157.58%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TFC shares. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.30.

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.