William Rogers, Jr. Sells 13,250 Shares of Truist Financial (NYSE:TFC) Stock

Truist Financial Corporation (NYSE:TFC) CEO William Rogers, Jr. sold 13,250 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Truist Financial Trading Down 1.2%

Truist Financial stock opened at $52.34 on Thursday. 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 fifty-two week low of $40.78 and a fifty-two week high of $56.19. The stock has a market cap of $65.21 billion, a P/E ratio of 12.00, a PEG ratio of 0.96 and a beta of 0.89. The firm’s fifty day moving average price is $50.12 and its 200-day moving average price is $49.59.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.15. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. Equities research analysts forecast that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal 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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s payout ratio is presently 47.71%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TFC. Pinnacle Financial Partners Inc. lifted its stake in shares of Truist Financial by 30.0% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock valued at $7,994,000 after acquiring an additional 40,393 shares during the last quarter. Ritholtz Wealth Management lifted its position in Truist Financial by 91.9% in the fourth quarter. Ritholtz Wealth Management now owns 45,749 shares of the insurance provider’s stock valued at $2,251,000 after purchasing an additional 21,903 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Truist Financial by 531.8% during the first quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock valued at $20,059,000 after purchasing an additional 367,291 shares during the period. LBP AM SA bought a new position in shares of Truist Financial in the fourth quarter worth approximately $10,836,000. Finally, Carnegie Investment Counsel grew its holdings in shares of Truist Financial by 57.8% in the fourth quarter. Carnegie Investment Counsel now owns 105,792 shares of the insurance provider’s stock worth $5,206,000 after purchasing an additional 38,750 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TFC shares. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Bank of America reissued a “neutral” rating and issued a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. upped 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. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $54.67.

About Truist Financial

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.