PFW Advisors LLC Sells 273 Shares of Truist Financial Corporation $TFC

PFW Advisors LLC decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 5.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,951 shares of the insurance provider’s stock after selling 273 shares during the quarter. PFW Advisors LLC’s holdings in Truist Financial were worth $213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TFC. Brighton Jones LLC grew its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Lazard Asset Management LLC grew its stake in Truist Financial by 101.1% in the fourth quarter. Lazard Asset Management LLC now owns 14,316 shares of the insurance provider’s stock worth $620,000 after purchasing an additional 7,197 shares in the last quarter. Woodline Partners LP bought a new position in Truist Financial in the fourth quarter worth approximately $3,458,000. Waverly Advisors LLC grew its stake in Truist Financial by 9.1% in the fourth quarter. Waverly Advisors LLC now owns 78,194 shares of the insurance provider’s stock worth $3,392,000 after purchasing an additional 6,546 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Truist Financial by 13.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock worth $465,827,000 after purchasing an additional 1,307,252 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TFC shares. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, July 9th. Morgan Stanley reaffirmed a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. 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 research report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.47.

Truist Financial Stock Performance

Shares of TFC stock opened at $44.55 on Wednesday. The firm has a market capitalization of $57.44 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average of $44.99 and a 200 day moving average of $41.70. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

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). The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business’s revenue was down 406.0% on a year-over-year basis. During the same quarter last year, the business earned $0.91 EPS. As a group, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is currently 56.68%.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

About Truist Financial

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.