Truist Financial Corporation $TFC Stock Position Increased by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC raised its position in shares of Truist Financial Corporation (NYSE:TFC) by 129.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,253 shares of the insurance provider’s stock after purchasing an additional 20,991 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Truist Financial were worth $1,856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TFC. Kemnay Advisory Services Inc. bought a new position in Truist Financial in the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in Truist Financial in the 4th quarter valued at approximately $26,000. McMillan Office Inc. acquired a new position in Truist Financial during the 4th quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 431 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of 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 purchasing an additional 500 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the transaction, the director owned 10,270 shares of the company’s stock, valued at approximately $520,689. This represents a 27.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donta L. Wilson sold 13,280 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 30,516 shares of company stock worth $1,584,428. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of a number of research analyst reports. Bank of America reissued a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Robert W. Baird increased their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Royal Bank Of Canada boosted their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $54.67.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $52.35 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $50.69 and its two-hundred day moving average price is $49.70. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The stock has a market cap of $63.95 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4.59 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s dividend payout ratio is currently 47.71%.

About Truist Financial

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.