Truist Financial (NYSE:TFC) CEO Michael Lyons Purchases 21,000 Shares

Truist Financial Corporation (NYSE:TFC) CEO Michael Lyons bought 21,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was bought at an average price of $48.36 per share, with a total value of $1,015,560.00. Following the purchase, the chief executive officer owned 21,000 shares of the company’s stock, valued at approximately $1,015,560. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $48.52 on Friday. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $59.27 billion, a P/E ratio of 11.13, a PEG ratio of 1.01 and a beta of 0.88. The business’s 50-day simple moving average is $51.36 and its 200 day simple moving average is $49.49.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Truist Financial Corporation will post 4.61 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is presently 47.71%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $63.00 to $54.00 in a report on Tuesday, June 30th. Evercore reissued an “outperform” rating and set a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Stephens reduced their price target on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Finally, Robert W. Baird lifted their price target on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.12.

Institutional Trading of Truist Financial

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Truist Financial in the 2nd quarter worth about $4,959,834,000. Auto Owners Insurance Co grew its position in Truist Financial by 4,821.0% in the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after purchasing an additional 13,884,480 shares during the last quarter. Norges Bank acquired a new stake in shares of Truist Financial in the fourth quarter valued at approximately $502,340,000. Bank of New York Mellon Corp bought a new stake in shares of Truist Financial during the second quarter valued at approximately $338,855,000. Finally, Deutsche Bank AG bought a new stake in shares of Truist Financial during the second quarter valued at approximately $257,208,000. Institutional investors own 71.28% of the company’s stock.

About Truist Financial

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.