Truist Financial (NYSE:TFC) CEO Sells $693,770.00 in Stock

Truist Financial Corporation (NYSE:TFC) CEO William Rogers, Jr. sold 13,250 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Truist Financial Price Performance

Shares of NYSE TFC opened at $51.98 on Friday. The stock’s 50-day simple moving average is $50.21 and its 200-day simple moving average is $49.60. The firm has a market capitalization of $64.76 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week 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.

Truist Financial (NYSE:TFC) last announced its quarterly 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 firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Truist Financial Corporation will post 4.59 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Truist Financial’s dividend payout ratio is presently 47.71%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TFC. Kemnay Advisory Services Inc. purchased a new stake in Truist Financial in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in shares of Truist Financial during the 4th quarter worth approximately $26,000. McMillan Office Inc. acquired a new stake in shares of Truist Financial in the 4th quarter valued at approximately $31,000. Maseco LLP lifted its holdings in shares of Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TFC. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Bank of America reiterated a “neutral” rating and set a $56.00 target price (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $58.00 to $55.00 in a report on Tuesday, July 7th. Robert W. Baird upped their target price on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $54.67.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.