F M Investments LLC Invests $2.64 Million in Truist Financial Co. (NYSE:TFC)

F M Investments LLC bought a new stake in Truist Financial Co. (NYSE:TFC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 68,267 shares of the insurance provider’s stock, valued at approximately $2,642,000.

A number of other hedge funds have also added to or reduced their stakes in TFC. Crewe Advisors LLC acquired a new stake in Truist Financial in the first quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at about $29,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the 2nd quarter valued at about $30,000. Missouri Trust & Investment Co boosted its holdings in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Finally, Rise Advisors LLC bought a new stake in Truist Financial in the 1st quarter valued at about $32,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price 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 in the company, valued at $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Trading Up 1.3 %

NYSE:TFC traded up $0.55 during trading hours on Friday, hitting $44.46. The company had a trading volume of 6,565,370 shares, compared to its average volume of 8,339,271. The company has a market capitalization of $59.54 billion, a PE ratio of -33.68, a price-to-earnings-growth ratio of 2.07 and a beta of 1.06. The stock has a 50-day moving average price of $41.49 and a 200 day moving average price of $38.73. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. On average, equities research analysts predict that Truist Financial Co. will post 3.56 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TFC. Morgan Stanley boosted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Wednesday, July 17th. Piper Sandler increased their target price on shares of Truist Financial from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Finally, Stephens increased their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.30.

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.