122,054 Shares in Truist Financial Corporation $TFC Bought by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 122,054 shares of the insurance provider’s stock, valued at approximately $6,081,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new stake in Truist Financial in the 2nd quarter worth $3,010,000. AMG National Trust Bank bought a new position in shares of Truist Financial during the 2nd quarter worth about $1,760,000. Simplicity Wealth LLC acquired a new position in shares of Truist Financial during the second quarter valued at about $687,000. Trivium Point Advisory LLC acquired a new position in shares of Truist Financial during the second quarter valued at about $480,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of Truist Financial during the second quarter valued at about $552,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $53.08 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $51.13 and its 200-day simple moving average is $49.80. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The firm has a market cap of $64.84 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.12 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating 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 business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts expect that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th. Truist Financial’s payout ratio is presently 47.71%.

Insider Activity

In other news, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the sale, the insider directly owned 56,009 shares in the company, valued at approximately $2,904,066.65. This represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,516 shares of company stock worth $1,584,428. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TFC. Royal Bank Of Canada lifted their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. upped their price target on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Robert W. Baird raised their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $54.67.

Truist Financial 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.