Smith Chas P & Associates PA Cpas Boosts Stock Position in Truist Financial Co. (NYSE:TFC)

Smith Chas P & Associates PA Cpas grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,222 shares of the insurance provider’s stock after buying an additional 307 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Truist Financial were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital International Investors grew its position in shares of Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after buying an additional 5,632,493 shares during the last quarter. Jennison Associates LLC increased its position in shares of Truist Financial by 48.9% during the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after purchasing an additional 1,261,598 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after purchasing an additional 834,048 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Truist Financial by 278.6% in the 1st quarter. Retirement Systems of Alabama now owns 1,112,844 shares of the insurance provider’s stock valued at $43,379,000 after purchasing an additional 818,916 shares during the period. Finally, Swedbank AB purchased a new position in Truist Financial during the 1st quarter worth approximately $29,957,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $43.26 on Monday. The company has a market cap of $57.89 billion, a price-to-earnings ratio of -32.77, a PEG ratio of 1.78 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $42.45 and a 200-day moving average of $40.13. Truist Financial Co. has a 12-month low of $26.95 and a 12-month high of $45.31.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the previous year, the business earned $0.95 earnings per share. Truist Financial’s quarterly revenue was down 15.9% compared to the same quarter last year. As a group, equities analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.81%. Truist Financial’s dividend payout ratio is presently -157.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TFC shares. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group lifted their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.45.

About Truist Financial

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.