NTV Asset Management LLC Sells 3,235 Shares of Truist Financial Corporation $TFC

NTV Asset Management LLC decreased its position in shares of Truist Financial Corporation (NYSE:TFC) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,701 shares of the insurance provider’s stock after selling 3,235 shares during the period. Truist Financial makes up 0.9% of NTV Asset Management LLC’s holdings, making the stock its 26th biggest position. NTV Asset Management LLC’s holdings in Truist Financial were worth $7,295,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Truist Financial during the 1st quarter worth $25,000. Centennial Bank AR increased its position in Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after buying an additional 580 shares during the period. Motco grew its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC grew its holdings in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider directly owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several analyst reports. Morgan Stanley increased their target price on Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday. Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Tuesday, July 8th. Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Evercore ISI increased their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $48.89.

Truist Financial Stock Performance

NYSE:TFC opened at $45.53 on Friday. The stock’s 50-day simple moving average is $45.15 and its 200 day simple moving average is $42.07. The firm has a market capitalization of $58.71 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.45 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business’s quarterly revenue was down 406.0% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. On average, analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

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.