Guyasuta Investment Advisors Inc. Makes New $506,000 Investment in Truist Financial Corporation $TFC

Guyasuta Investment Advisors Inc. acquired a new position in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 11,767 shares of the insurance provider’s stock, valued at approximately $506,000.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Partners Group LLC lifted its position in shares of Truist Financial by 29.9% in the 2nd quarter. Financial Partners Group LLC now owns 45,982 shares of the insurance provider’s stock worth $1,977,000 after buying an additional 10,596 shares during the last quarter. Hengehold Capital Management LLC lifted its position in shares of Truist Financial by 1.0% in the 2nd quarter. Hengehold Capital Management LLC now owns 83,407 shares of the insurance provider’s stock worth $3,586,000 after buying an additional 792 shares during the last quarter. Old Port Advisors lifted its position in shares of Truist Financial by 303.7% in the 2nd quarter. Old Port Advisors now owns 20,556 shares of the insurance provider’s stock worth $884,000 after buying an additional 15,464 shares during the last quarter. Patton Fund Management Inc. bought a new position in shares of Truist Financial in the 2nd quarter worth about $251,000. Finally, Southern Capital Advisors LLC lifted its position in shares of Truist Financial by 2.7% in the 2nd quarter. Southern Capital Advisors LLC now owns 48,446 shares of the insurance provider’s stock worth $2,083,000 after buying an additional 1,255 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 0.7%

TFC stock opened at $46.06 on Friday. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market capitalization of $59.39 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. The firm’s 50-day moving average is $45.12 and its two-hundred day moving average is $41.91. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The firm’s quarterly revenue was down 406.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. On average, analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid 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 4.5%. Truist Financial’s payout ratio is currently 56.68%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TFC shares. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a research report on Wednesday, July 9th. Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a research report on Monday, July 21st. Raymond James Financial upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.47.

Insider Buying and Selling at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred 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 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 legal filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Truist Financial 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.