Community Bank N.A. Sells 1,500 Shares of Truist Financial Co. (NYSE:TFC)

Community Bank N.A. trimmed its stake in Truist Financial Co. (NYSE:TFC) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,670 shares of the insurance provider’s stock after selling 1,500 shares during the period. Community Bank N.A.’s holdings in Truist Financial were worth $3,835,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Truist Financial by 316.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after buying an additional 1,609,351 shares in the last quarter. LPL Financial LLC raised its stake in Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after acquiring an additional 630,628 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Truist Financial during the third quarter valued at approximately $26,087,000. GW Henssler & Associates Ltd. boosted its position in shares of Truist Financial by 4,435.3% in the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after purchasing an additional 494,007 shares during the period. Finally, FMR LLC raised its position in shares of Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after purchasing an additional 478,886 shares during the period. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TFC. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Compass Point upped their target price on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.17.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Down 0.1 %

Shares of NYSE TFC opened at $47.68 on Monday. The company has a market cap of $63.30 billion, a P/E ratio of -33.34, a PEG ratio of 1.96 and a beta of 1.05. The firm has a 50-day simple moving average of $44.23 and a two-hundred day simple moving average of $41.84. Truist Financial Co. has a 1 year low of $31.96 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

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.