Oak Hill Wealth Advisors LLC Has $629,000 Stake in Truist Financial Corporation $TFC

Oak Hill Wealth Advisors LLC reduced its position in shares of Truist Financial Corporation (NYSE:TFC) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,844 shares of the insurance provider’s stock after selling 677 shares during the period. Oak Hill Wealth Advisors LLC’s holdings in Truist Financial were worth $629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Amundi raised its stake in Truist Financial by 4.6% in the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after buying an additional 1,091,311 shares during the period. Invesco Ltd. boosted its holdings in shares of Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after acquiring an additional 3,188,999 shares in the last quarter. American Century Companies Inc. lifted its holdings in Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after buying an additional 2,158,639 shares during the period. Federated Hermes Inc. lifted its holdings in Truist Financial by 0.9% during the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after buying an additional 89,373 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Truist Financial by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock worth $330,408,000 after acquiring an additional 408,726 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.4%

Shares of TFC stock opened at $45.53 on Friday. The company’s fifty day simple moving average is $45.15 and its two-hundred day simple moving average is $42.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The stock has a market capitalization of $58.71 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.45 and a beta of 0.88.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the firm earned $0.91 EPS. The company’s revenue was down 406.0% compared to the same quarter last year. As a group, analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current 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 issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. Truist Financial’s dividend payout ratio is presently 56.68%.

Insider Buying and Selling at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction 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.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Morgan Stanley boosted their target price on Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research 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 for the company in a research report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $48.89.

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.