Truist Financial Corporation $TFC Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of Truist Financial Corporation (NYSE:TFC) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,439 shares of the insurance provider’s stock after selling 12,864 shares during the period. Tidal Investments LLC’s holdings in Truist Financial were worth $7,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service lifted its holdings in Truist Financial by 0.7% during the 2nd quarter. National Pension Service now owns 3,426,158 shares of the insurance provider’s stock worth $170,691,000 after buying an additional 25,416 shares during the last quarter. Cidel Asset Management Inc. boosted its position in shares of Truist Financial by 2.0% during the 2nd quarter. Cidel Asset Management Inc. now owns 14,423 shares of the insurance provider’s stock worth $719,000 after acquiring an additional 288 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Truist Financial by 1.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 49,393 shares of the insurance provider’s stock valued at $2,461,000 after acquiring an additional 562 shares during the last quarter. Community Bank N.A. increased its holdings in shares of Truist Financial by 1.2% in the 2nd quarter. Community Bank N.A. now owns 97,314 shares of the insurance provider’s stock valued at $4,847,000 after acquiring an additional 1,175 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Truist Financial by 11.4% during the 2nd quarter. NewEdge Advisors LLC now owns 253,065 shares of the insurance provider’s stock worth $12,608,000 after acquiring an additional 25,995 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director K. Boyer, Jr. sold 3,986 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the sale, the director owned 10,270 shares of the company’s stock, valued at $520,689. This trade represents a 27.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TFC. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. Evercore reiterated an “outperform” rating and issued a $57.00 price target on shares of Truist Financial in a research note on Monday, July 6th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Stephens reduced their price objective on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Finally, Bank of America restated a “neutral” rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $55.12.

Truist Financial Stock Up 0.2%

TFC opened at $50.43 on Friday. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The business has a 50 day moving average price of $51.55 and a two-hundred day moving average price of $49.52. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The company has a market cap of $61.61 billion, a PE ratio of 11.57, a P/E/G ratio of 1.06 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Truist Financial Corporation will post 4.58 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Truist Financial Profile

Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.