Truist Financial Co. (NYSE:TFC) Shares Bought by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,222 shares of the insurance provider’s stock after acquiring an additional 307 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Truist Financial were worth $1,164,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TFC. Capital International Investors boosted its holdings in Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after buying an additional 103,565 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the period. Truist Financial Corp raised its position in Truist Financial by 6.7% during the second quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after acquiring an additional 311,523 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Truist Financial by 48.9% in the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after acquiring an additional 1,261,598 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the topic of several analyst reports. Stephens restated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and raised their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Barclays raised their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Argus upped their target price on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $45.45.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 1.8 %

Shares of TFC opened at $43.26 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $42.45 and a 200 day moving average price of $40.13. Truist Financial Co. has a 12-month low of $26.95 and a 12-month high of $45.31. The firm has a market capitalization of $57.89 billion, a P/E ratio of -32.77, a P/E/G ratio of 1.78 and a beta of 1.05.

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

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

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.