Foster & Motley Inc. Buys New Shares in Truist Financial Corporation $TFC

Foster & Motley Inc. purchased a new position in shares of Truist Financial Corporation (NYSE:TFC) in the second quarter, according to its most recent filing with the SEC. The firm purchased 13,748 shares of the insurance provider’s stock, valued at approximately $685,000.

Several other hedge funds also recently modified their holdings of TFC. 3Chopt Investment Partners LLC raised its stake in Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares during the period. IFP Advisors Inc increased its position in shares of Truist Financial by 2.4% during the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after acquiring an additional 194 shares during the last quarter. PCB Capital LLC raised its stake in shares of Truist Financial by 3.0% during the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 198 shares during the period. AlphaCore Capital LLC boosted its stake in Truist Financial by 8.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after acquiring an additional 199 shares during the last quarter. Finally, CYBER HORNET ETFs LLC lifted its stake in Truist Financial by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock valued at $188,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. UBS Group downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Evercore reissued an “outperform” rating and issued a $57.00 target price on shares of Truist Financial in a research note on Monday, July 6th. Finally, Robert W. Baird increased their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.67.

Insider Transactions at Truist Financial

In other news, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 3,986 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total value of $202,090.20. Following the sale, the director directly owned 10,270 shares in the company, valued at $520,689. This trade represents a 27.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,516 shares of company stock worth $1,584,428 over the last quarter. 0.15% of the stock is currently owned by insiders.

Truist Financial Trading Down 2.7%

Shares of NYSE TFC opened at $50.99 on Thursday. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average of $51.29 and a 200 day moving average of $49.82. The stock has a market cap of $62.30 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.10 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is presently 47.71%.

Truist Financial Profile

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.