Oregon Public Employees Retirement Fund Acquires 918 Shares of Truist Financial Co. (NYSE:TFC)

Oregon Public Employees Retirement Fund increased its holdings in Truist Financial Co. (NYSE:TFC) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,915 shares of the insurance provider’s stock after purchasing an additional 918 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Truist Financial were worth $4,464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Crewe Advisors LLC purchased a new stake in Truist Financial during the 1st quarter valued at $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the first quarter valued at about $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the second quarter worth about $30,000. Missouri Trust & Investment Co grew its stake in shares of Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in Truist Financial during the 1st quarter valued at about $32,000. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost 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 directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Price Performance

NYSE:TFC opened at $43.62 on Thursday. The stock has a market capitalization of $58.41 billion, a PE ratio of -33.05, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $42.07 and its 200-day moving average price is $38.98.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, equities analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.77%. Truist Financial’s dividend payout ratio is presently -157.58%.

Analysts Set New Price Targets

Several brokerages have commented on TFC. Stephens upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Bank of America raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.30.

Truist Financial Company 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.