Truist Financial Corporation $TFC Stock Position Raised by Hardy Reed LLC

Hardy Reed LLC boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 17.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,041 shares of the insurance provider’s stock after acquiring an additional 1,520 shares during the period. Hardy Reed LLC’s holdings in Truist Financial were worth $432,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares during the last quarter. Gateway Investment Advisers LLC acquired a new position in shares of Truist Financial during the first quarter valued at $205,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Truist Financial by 2.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 16,218 shares of the insurance provider’s stock worth $667,000 after acquiring an additional 394 shares during the last quarter. KMG Fiduciary Partners LLC increased its holdings in shares of Truist Financial by 21.0% in the 1st quarter. KMG Fiduciary Partners LLC now owns 47,639 shares of the insurance provider’s stock worth $1,960,000 after acquiring an additional 8,254 shares during the period. Finally, Park Avenue Securities LLC lifted its position in Truist Financial by 12.8% in the 1st quarter. Park Avenue Securities LLC now owns 51,161 shares of the insurance provider’s stock valued at $2,105,000 after purchasing an additional 5,800 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Raymond James Financial upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Tuesday, July 8th. Evercore ISI raised their target price on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods downgraded Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research note on Wednesday, July 9th. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Finally, Morgan Stanley raised their price target on Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.89.

Truist Financial Stock Down 0.3%

Shares of TFC stock opened at $45.39 on Tuesday. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year 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. The business’s fifty day moving average is $45.15 and its 200-day moving average is $42.11. The stock has a market cap of $58.53 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88.

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

Truist Financial Announces Dividend

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

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the sale, the insider directly owned 500 shares in the company, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate 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.