Thurston Springer Miller Herd & Titak Inc. Invests $42,000 in Truist Financial Co. (NYSE:TFC)

Thurston Springer Miller Herd & Titak Inc. bought a new position in Truist Financial Co. (NYSE:TFC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,083 shares of the insurance provider’s stock, valued at approximately $42,000.

Other large investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in Truist Financial during the 1st quarter worth about $29,000. Rise Advisors LLC bought a new stake in Truist Financial during the 1st quarter worth about $32,000. Missouri Trust & Investment Co grew its holdings in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in Truist Financial during the 4th quarter worth about $34,000. Institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Up 1.1 %

Shares of NYSE:TFC traded up $0.46 during midday trading on Tuesday, hitting $41.64. The stock had a trading volume of 7,614,553 shares, compared to its average volume of 8,519,678. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The business’s 50-day simple moving average is $39.37 and its 200-day simple moving average is $38.04. The company has a market cap of $55.72 billion, a P/E ratio of -31.55, a PEG ratio of 1.97 and a beta of 1.06.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.00%. Truist Financial’s dividend payout ratio is presently -157.58%.

Analyst Ratings Changes

A number of equities research analysts have commented on TFC shares. Jefferies Financial Group increased their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Royal Bank of Canada raised their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. HSBC raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group raised their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.30.

About Truist Financial

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.