Michael Baron Maguire Sells 13,000 Shares of Truist Financial (NYSE:TFC) Stock

Truist Financial Corporation (NYSE:TFC) CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the transaction, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Truist Financial Stock Performance

Shares of TFC traded down $0.45 during mid-day trading on Wednesday, hitting $50.44. The stock had a trading volume of 2,027,165 shares, compared to its average volume of 9,717,779. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $51.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. The business has a fifty day moving average price of $49.00 and a 200-day moving average price of $46.26. The firm has a market cap of $64.53 billion, a P/E ratio of 13.24, a PEG ratio of 0.85 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial’s payout ratio is 54.59%.

Truist Financial announced that its board has initiated a stock repurchase plan on Tuesday, December 16th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 15.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently weighed in on TFC. UBS Group set a $55.00 price objective on shares of Truist Financial in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods raised their price target on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Piper Sandler lifted their price target on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $58.00 target price on shares of Truist Financial in a research note on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $54.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter worth about $28,000. Aspect Partners LLC lifted its position in Truist Financial by 71.5% in the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares during the last quarter. Maseco LLP boosted its stake in Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares in the last quarter. Ancora Advisors LLC boosted its stake in Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock worth $32,000 after buying an additional 500 shares in the last quarter. Finally, Darwin Wealth Management LLC grew its position in Truist Financial by 631.6% during the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.