Truist Financial (NYSE:TFC) CEO Michael Lyons Acquires 25,000 Shares of Stock

Truist Financial Corporation (NYSE:TFC) CEO Michael Lyons acquired 25,000 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was purchased at an average price of $48.36 per share, for a total transaction of $1,209,000.00. Following the acquisition, the chief executive officer directly owned 46,000 shares in the company, valued at $2,224,560. This represents a 119.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Truist Financial Stock Up 1.7%

Shares of Truist Financial stock opened at $49.27 on Friday. The business has a 50-day moving average of $48.43 and a 200-day moving average of $49.50. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $60.18 billion, a PE ratio of 10.53, a P/E/G ratio of 1.06 and a beta of 0.92. Truist Financial Corporation has a 1-year low of $43.13 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.01). The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. Truist Financial’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 earnings per share. As a group, equities analysts forecast that Truist Financial Corporation will post 4.71 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, November 13th. Truist Financial’s payout ratio is 53.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TFC shares. Morgan Stanley cut shares of Truist Financial from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $62.00 to $54.00 in a research report on Monday, July 6th. Evercore reissued an “outperform” rating and issued a $55.00 price objective on shares of Truist Financial in a report on Tuesday. Keefe, Bruyette & Woods cut their price objective on Truist Financial from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, October 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Truist Financial from $54.00 to $50.50 and set an “underweight” rating for the company in a research report on Friday, October 2nd. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $53.76.

Institutional Investors Weigh In On Truist Financial

Several institutional investors and hedge funds have recently bought and sold shares of TFC. BlackRock Inc. bought a new position in shares of Truist Financial in the second quarter worth $4,959,834,000. State Street Corp increased its holdings in shares of Truist Financial by 0.9% during the second quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock valued at $2,924,066,000 after purchasing an additional 501,026 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Truist Financial by 7.5% during the first quarter. Bank of New York Mellon Corp now owns 11,289,721 shares of the insurance provider’s stock valued at $518,988,000 after purchasing an additional 789,179 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Truist Financial by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,608,268 shares of the insurance provider’s stock valued at $395,642,000 after purchasing an additional 164,052 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Truist Financial by 0.6% during the second quarter. Legal & General Group Plc now owns 7,853,887 shares of the insurance provider’s stock valued at $391,281,000 after purchasing an additional 44,215 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.