Fulton Bank N.A. Sells 25,405 Shares of Truist Financial Corporation $TFC

Fulton Bank N.A. decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 38.5% in the second quarter, HoldingsChannel.com reports. The fund owned 40,506 shares of the insurance provider’s stock after selling 25,405 shares during the period. Fulton Bank N.A.’s holdings in Truist Financial were worth $2,018,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 3Chopt Investment Partners LLC raised its holdings in Truist Financial by 1.3% in the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after purchasing an additional 193 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 194 shares in the last quarter. PCB Capital LLC increased its position in shares of Truist Financial by 3.0% during the first quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after buying an additional 198 shares during the period. AlphaCore Capital LLC increased its position in shares of Truist Financial by 8.3% during the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC raised 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 worth $188,000 after buying an additional 199 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, insider Donta L. Wilson sold 13,280 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction dated 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 owned 10,270 shares of the company’s stock, valued at approximately $520,689. This represents a 27.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is owned by company insiders.

Truist Financial Trading Up 0.9%

Shares of TFC stock opened at $52.32 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The stock has a market capitalization of $63.92 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.94 and a beta of 0.89. The firm’s 50 day moving average is $50.88 and its 200 day moving average is $49.74.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share 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 analyst estimates of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. Research analysts expect that Truist Financial Corporation will post 4.59 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio is 47.71%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Stephens decreased their target price on Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their price target on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada upped their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus target price of $54.67.

Truist Financial Company 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.