Truist Financial Corporation (NYSE:TFC - Get Free Report) insider Donta Wilson sold 13,280 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider directly owned 56,009 shares in the company, valued at $2,904,066.65. The trade was a 19.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Truist Financial Stock Up 1.4%
Shares of NYSE TFC opened at $52.64 on Wednesday. The firm has a market cap of $64.30 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The firm's 50 day moving average price is $50.42 and its 200 day moving average price is $49.65.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the firm posted $0.91 EPS. Truist Financial's revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4.59 earnings per share for the current year.
Truist Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. Truist Financial's payout ratio is currently 47.71%.
Analysts Set New Price Targets
TFC has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a "mixed" rating and set a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Truist Financial in a research note on Wednesday, July 29th. Robert W. Baird increased their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $53.00 to $54.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 29th. Finally, Raymond James Financial restated a "market perform" rating on shares of Truist Financial in a report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of "Hold" and a consensus price target of $54.67.
Get Our Latest Research Report on Truist Financial
Institutional Investors Weigh In On Truist Financial
A number of institutional investors have recently added to or reduced their stakes in TFC. Pinnacle Financial Partners Inc. raised its holdings in Truist Financial by 30.0% in the third quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider's stock valued at $7,994,000 after buying an additional 40,393 shares during the period. Ritholtz Wealth Management increased its position in shares of Truist Financial by 91.9% in the fourth quarter. Ritholtz Wealth Management now owns 45,749 shares of the insurance provider's stock worth $2,251,000 after acquiring an additional 21,903 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Truist Financial by 531.8% in the 1st quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider's stock valued at $20,059,000 after acquiring an additional 367,291 shares during the period. LBP AM SA purchased a new position in shares of Truist Financial in the 4th quarter valued at $10,836,000. Finally, Carnegie Investment Counsel lifted its holdings in shares of Truist Financial by 57.8% during the 4th quarter. Carnegie Investment Counsel now owns 105,792 shares of the insurance provider's stock valued at $5,206,000 after acquiring an additional 38,750 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.
Truist Financial Company Profile
(
Get Free Report)
Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.
Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.
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