Hengehold Capital Management LLC Increases Position in Truist Financial Co. (NYSE:TFC)

Hengehold Capital Management LLC grew its position in Truist Financial Co. (NYSE:TFC) by 5.6% during the third quarter, Holdings Channel.com reports. The firm owned 79,933 shares of the insurance provider’s stock after acquiring an additional 4,267 shares during the period. Hengehold Capital Management LLC’s holdings in Truist Financial were worth $3,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at $29,000. MFA Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the 2nd quarter valued at $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial in the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at $32,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 1.0 %

Shares of NYSE TFC opened at $44.09 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52 week low of $26.95 and a 52 week high of $45.31. The firm has a 50-day moving average price of $42.61 and a 200 day moving average price of $40.23. The stock has a market capitalization of $59.00 billion, a price-to-earnings ratio of -33.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS 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 firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities research analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.97.

Insider Activity at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $295,208.32. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.