Truist Financial (NYSE:TFC) Director Sells 3,986 Shares of Stock

Truist Financial Corporation (NYSE:TFC) Director K. David Jr. Boyer sold 3,986 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director owned 10,270 shares in the company, valued at $520,689. This represents a 27.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Truist Financial Stock Up 1.1%

Truist Financial stock traded up $0.57 during trading on Tuesday, hitting $52.70. 2,505,387 shares of the company were exchanged, compared to its average volume of 9,349,255. The company has a market capitalization of $65.65 billion, a P/E ratio of 12.09, a PEG ratio of 0.94 and a beta of 0.89. The business’s 50 day moving average is $49.91 and its 200 day moving average is $49.56. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts predict that Truist Financial Corporation will post 4.59 earnings per share for the current year.

Analyst Ratings Changes

TFC has been the subject of several analyst reports. Stephens decreased their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods increased their price target on Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Royal Bank Of Canada lifted their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research report on Friday, April 17th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus price target of $54.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Financial Partners Inc. boosted its stake in Truist Financial by 30.0% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after purchasing an additional 40,393 shares during the period. Ritholtz Wealth Management boosted its position in shares of Truist Financial by 91.9% in the fourth quarter. Ritholtz Wealth Management now owns 45,749 shares of the insurance provider’s stock valued at $2,251,000 after acquiring an additional 21,903 shares during the period. Fifth Third Bancorp boosted its position in shares of Truist Financial by 531.8% in the first quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock valued at $20,059,000 after acquiring an additional 367,291 shares during the period. LBP AM SA purchased a new position in Truist Financial during the fourth quarter valued at approximately $10,836,000. Finally, Carnegie Investment Counsel increased its holdings in Truist Financial by 57.8% during the 4th quarter. Carnegie Investment Counsel now owns 105,792 shares of the insurance provider’s stock worth $5,206,000 after acquiring an additional 38,750 shares during the period. 71.28% of the stock is owned by 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.