Truist Financial Corporation (NYSE:TFC) Director K. David Jr. Boyer sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $36.50, for a total transaction of $54,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
TFC stock opened at $35.47 on Friday. The firm’s 50-day moving average price is $38.68 and its two-hundred day moving average price is $36.28. Truist Financial Corporation has a 12-month low of $24.01 and a 12-month high of $56.92. The stock has a market capitalization of $47.80 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.46 and a beta of 1.41. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68.
Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, July 16th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.18. Truist Financial had a net margin of 17.32% and a return on equity of 8.07%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. Equities analysts predict that Truist Financial Corporation will post 3.18 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Thursday, August 13th. Truist Financial’s dividend payout ratio is currently 41.19%.
A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Truist Financial from $40.00 to $51.00 in a report on Friday, June 5th. Wolfe Research assumed coverage on shares of Truist Financial in a report on Friday, July 31st. They set an “outperform” rating for the company. Zacks Investment Research raised shares of Truist Financial from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a report on Friday, August 21st. ValuEngine raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Truist Financial from $42.00 to $47.00 in a report on Friday, July 17th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Truist Financial has a consensus rating of “Buy” and an average target price of $45.40.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC increased its position in shares of Truist Financial by 3.3% during the second quarter. Global Retirement Partners LLC now owns 35,665 shares of the insurance provider’s stock valued at $1,339,000 after buying an additional 1,125 shares during the period. Kentucky Retirement Systems bought a new position in shares of Truist Financial in the second quarter worth approximately $2,817,000. Sound Income Strategies LLC lifted its stake in shares of Truist Financial by 164.5% in the second quarter. Sound Income Strategies LLC now owns 804 shares of the insurance provider’s stock worth $30,000 after buying an additional 500 shares in the last quarter. APG Asset Management N.V. lifted its stake in shares of Truist Financial by 12.4% in the first quarter. APG Asset Management N.V. now owns 3,590,632 shares of the insurance provider’s stock worth $110,735,000 after buying an additional 396,524 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Truist Financial by 7.8% during the second quarter. New York State Common Retirement Fund now owns 3,158,981 shares of the insurance provider’s stock valued at $118,620,000 after purchasing an additional 228,155 shares during the period. Institutional investors own 73.36% of the company’s stock.
About Truist Financial
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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