Truist Financial (NYSE:TFC) CEO Buys $1,015,560.00 in Stock

Truist Financial Corporation (NYSE:TFC) CEO Michael Lyons bought 21,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were bought at an average price of $48.36 per share, for a total transaction of $1,015,560.00. Following the transaction, the chief executive officer directly owned 21,000 shares in the company, valued at $1,015,560. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Truist Financial Trading Down 0.0%

NYSE:TFC opened at $48.43 on Friday. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month 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. The stock has a market capitalization of $59.17 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.02 and a beta of 0.88. The firm has a fifty day simple moving average of $51.42 and a two-hundred day simple moving average of $49.49.

Truist Financial (NYSE:TFC) last announced 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 firm had revenue of $5.31 billion for 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 quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. Analysts expect that Truist Financial Corporation will post 4.59 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Institutional Investors Weigh In On Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFC. N.E.W. Advisory Services LLC bought a new position in Truist Financial during the second quarter valued at $30,000. Navigoe LLC purchased a new stake in shares of Truist Financial during the 2nd quarter valued at about $30,000. Evolution Wealth Management Inc. lifted its holdings in shares of Truist Financial by 2,218.2% in the 1st quarter. Evolution Wealth Management Inc. now owns 765 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 732 shares during the last quarter. Wilkerson Advisory Group LLC grew its position in Truist Financial by 104.0% in the first quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 421 shares in the last quarter. Finally, Bare Financial Services Inc increased its stake in Truist Financial by 56.9% during the fourth quarter. Bare Financial Services Inc now owns 822 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TFC shares. UBS Group lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.00 to $55.00 in a research note on Tuesday, July 7th. Robert W. Baird upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. JPMorgan Chase & Co. raised their price target on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, July 29th. Bank of America reiterated a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and an average price target of $55.12.

About Truist Financial

Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.