PARK CIRCLE Co Purchases 12,600 Shares of Truist Financial Corporation $TFC

PARK CIRCLE Co lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 60.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,530 shares of the insurance provider’s stock after purchasing an additional 12,600 shares during the period. Truist Financial accounts for about 1.2% of PARK CIRCLE Co’s portfolio, making the stock its 23rd biggest position. PARK CIRCLE Co’s holdings in Truist Financial were worth $1,441,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TFC. Ignite Planners LLC increased its position in Truist Financial by 2.5% in the 2nd quarter. Ignite Planners LLC now owns 19,227 shares of the insurance provider’s stock valued at $851,000 after buying an additional 464 shares in the last quarter. NBT Bank N A NY grew its stake in Truist Financial by 15.8% in the 2nd quarter. NBT Bank N A NY now owns 15,849 shares of the insurance provider’s stock valued at $681,000 after purchasing an additional 2,158 shares during the period. REAP Financial Group LLC increased its holdings in Truist Financial by 206.8% during the second quarter. REAP Financial Group LLC now owns 1,632 shares of the insurance provider’s stock worth $70,000 after buying an additional 1,100 shares during the last quarter. BankPlus Trust Department raised its holdings in shares of Truist Financial by 16.0% in the 2nd quarter. BankPlus Trust Department now owns 38,156 shares of the insurance provider’s stock worth $1,640,000 after purchasing an additional 5,268 shares during the period. Finally, Godsey & Gibb Inc. raised its stake in shares of Truist Financial by 5.1% in the second quarter. Godsey & Gibb Inc. now owns 482,894 shares of the insurance provider’s stock valued at $20,760,000 after buying an additional 23,443 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TFC shares. Evercore ISI upped their price target on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday. Morgan Stanley lifted 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, September 29th. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.89.

Truist Financial Trading Down 2.3%

NYSE TFC opened at $44.16 on Thursday. The stock has a market cap of $56.94 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.45 and a beta of 0.88. 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 Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The stock’s fifty day moving average price is $45.16 and its 200-day moving average price is $42.15.

Truist Financial (NYSE:TFC) last issued its 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). The firm had revenue of $5.04 billion during 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 company’s quarterly revenue was down 406.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.7%. Truist Financial’s dividend payout ratio is currently 56.68%.

Insider Transactions at Truist Financial

In other Truist Financial 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 completion of the sale, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.