Focus Partners Wealth Sells 23,416 Shares of Truist Financial Corporation $TFC

Focus Partners Wealth decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 16.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,477 shares of the insurance provider’s stock after selling 23,416 shares during the quarter. Focus Partners Wealth’s holdings in Truist Financial were worth $4,917,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Wealth Preservation Advisors LLC purchased a new stake in Truist Financial in the 1st quarter valued at about $25,000. Centennial Bank AR increased its stake in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after buying an additional 580 shares during the last quarter. Motco increased its stake in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after buying an additional 468 shares during the last quarter. Finally, Sierra Ocean LLC increased its stake in Truist Financial by 64.4% in the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after buying an additional 352 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Keefe, Bruyette & Woods lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research note on Wednesday, July 9th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a research note on Monday, July 21st. Finally, Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.47.

Truist Financial Stock Down 0.2%

Truist Financial stock opened at $45.22 on Monday. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The firm has a market capitalization of $58.30 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.69 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $45.02 and a 200 day simple moving average of $41.69.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was down 406.0% on a year-over-year basis. On average, analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial’s payout ratio is 56.68%.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by company insiders.

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.