Truist Financial Co. (NYSE:TFC) Shares Sold by Equitable Trust Co.

Equitable Trust Co. lowered its holdings in Truist Financial Co. (NYSE:TFC) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,427 shares of the insurance provider’s stock after selling 1,828 shares during the period. Equitable Trust Co.’s holdings in Truist Financial were worth $2,581,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TFC. Crewe Advisors LLC acquired a new position in shares of Truist Financial in the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Truist Financial in the first quarter worth approximately $29,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the second quarter worth approximately $30,000. Missouri Trust & Investment Co lifted its stake in Truist Financial by 227.2% in the fourth 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, Rise Advisors LLC purchased a new position in Truist Financial in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

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

Truist Financial Stock Performance

Shares of Truist Financial stock traded up $0.55 during trading on Friday, reaching $44.46. The company’s stock had a trading volume of 6,565,479 shares, compared to its average volume of 7,177,810. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market cap of $59.49 billion, a PE ratio of -33.68, a P/E/G ratio of 2.08 and a beta of 1.06. The company has a 50-day moving average price of $41.65 and a two-hundred day moving average price of $38.81. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. On average, analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders 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 yield of 4.68%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TFC. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Barclays lifted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. HSBC boosted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Piper Sandler boosted their price objective on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 14th. Finally, Argus boosted their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.