Montag A & Associates Inc. Reduces Stock Holdings in Truist Financial Co. (NYSE:TFC)

Montag A & Associates Inc. lessened its holdings in Truist Financial Co. (NYSE:TFC) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 153,614 shares of the insurance provider’s stock after selling 2,483 shares during the period. Montag A & Associates Inc.’s holdings in Truist Financial were worth $5,968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in Truist Financial during the first quarter valued at $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial in the 2nd quarter worth approximately $30,000. Missouri Trust & Investment Co raised its position in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

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

Truist Financial Trading Up 1.3 %

Shares of TFC traded up $0.55 during trading hours on Friday, reaching $44.46. 6,565,479 shares of the company traded hands, compared to its average volume of 7,177,810. The firm has a market cap of $59.49 billion, a price-to-earnings ratio of -33.68, a PEG ratio of 2.08 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The stock’s fifty day moving average price is $41.65 and its 200 day moving average price is $38.81.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Analyst Ratings Changes

A number of research firms have commented on TFC. Morgan Stanley raised their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Barclays boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Piper Sandler boosted their price target on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Stephens boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.30.

Truist Financial Profile

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.