Truist Financial Co. (NYSE:TFC) Stake Lifted by United Capital Management of KS Inc.

United Capital Management of KS Inc. raised its stake in Truist Financial Co. (NYSE:TFC) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 108,917 shares of the insurance provider’s stock after buying an additional 1,078 shares during the quarter. United Capital Management of KS Inc.’s holdings in Truist Financial were worth $4,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Truist Financial in the 1st quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial during the second quarter valued at approximately $30,000. Missouri Trust & Investment Co boosted its position in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the period. Finally, Rise Advisors LLC bought a new position in Truist Financial in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on TFC shares. Stephens lifted their target price on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Royal Bank of Canada lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.30.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $44.46 on Friday. The stock’s fifty day simple moving average is $41.65 and its 200 day simple moving average is $38.78. The stock has a market capitalization of $59.54 billion, a price-to-earnings ratio of -33.68, a PEG ratio of 2.08 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 positive return on equity of 9.18% and a negative net margin of 5.63%. Truist Financial’s revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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

Insider Activity at Truist Financial

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

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.