Truist Financial Corporation $TFC Shares Sold by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. lessened its stake in shares of Truist Financial Corporation (NYSE:TFC) by 27.3% during the second quarter, HoldingsChannel reports. The firm owned 2,079 shares of the insurance provider’s stock after selling 779 shares during the period. SOA Wealth Advisors LLC.’s holdings in Truist Financial were worth $89,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TFC. Brighton Jones LLC lifted its stake in shares of 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 acquiring an additional 14,093 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of Truist Financial by 31.3% during the first quarter. Merit Financial Group LLC now owns 51,203 shares of the insurance provider’s stock valued at $2,107,000 after purchasing an additional 12,202 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Truist Financial by 10.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 35,683 shares of the insurance provider’s stock valued at $1,468,000 after purchasing an additional 3,508 shares during the last quarter. Apella Capital LLC bought a new position in Truist Financial in the 1st quarter worth approximately $277,000. Finally, HF Advisory Group LLC grew its holdings in Truist Financial by 14.2% in the 1st quarter. HF Advisory Group LLC now owns 40,096 shares of the insurance provider’s stock worth $1,650,000 after buying an additional 4,979 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 0.5%

Shares of NYSE:TFC opened at $45.35 on Friday. The company has a market cap of $58.47 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.46 and a beta of 0.88. The stock’s 50-day moving average is $45.15 and its 200-day moving average is $42.04. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was down 406.0% compared to the same quarter last year. Equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TFC shares. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Evercore ISI increased their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Tuesday, July 8th. Finally, Morgan Stanley increased their price objective on Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.89.

Insiders Place Their Bets

In related 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 $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

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.