Focus Partners Advisor Solutions LLC Buys Shares of 30,736 Truist Financial Corporation $TFC

Focus Partners Advisor Solutions LLC purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,736 shares of the insurance provider’s stock, valued at approximately $1,531,000.

A number of other large investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in Truist Financial in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new stake in Truist Financial in the 4th quarter valued at $26,000. McMillan Office Inc. acquired a new position in Truist Financial in the 4th quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the transaction, the director directly owned 10,270 shares in the company, valued at $520,689. The trade was a 27.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,516 shares of company stock valued at $1,584,428 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

Truist Financial Stock Up 0.2%

Truist Financial stock opened at $53.08 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day moving average is $51.13 and its 200-day moving average is $49.80. The firm has a market capitalization of $64.84 billion, a PE ratio of 12.17, a P/E/G ratio of 1.12 and a beta of 0.89. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. Sell-side analysts anticipate that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 yield of 3.9%. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Stephens decreased their price objective on Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Bank of America reaffirmed a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Robert W. Baird boosted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research 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 company an “underweight” rating in a research report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their target price on Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $54.67.

Truist Financial Company Profile

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.