Truist Financial Corporation $TFC Holdings Lowered by Loudon Investment Management LLC

Loudon Investment Management LLC lowered its position in shares of Truist Financial Corporation (NYSE:TFC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,821 shares of the insurance provider’s stock after selling 525 shares during the period. Truist Financial comprises about 3.0% of Loudon Investment Management LLC’s holdings, making the stock its 7th largest position. Loudon Investment Management LLC’s holdings in Truist Financial were worth $5,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC acquired a new position in Truist Financial in the first quarter valued at $25,000. Centennial Bank AR lifted its holdings in shares of Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after buying an additional 580 shares during the period. Motco boosted its stake in shares of Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Truist Financial by 115.3% during the first quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 468 shares during the period. Finally, Sierra Ocean LLC raised its position in Truist Financial by 64.4% in the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $45.70 on Wednesday. The company has a 50-day simple moving average of $45.15 and a 200-day simple moving average of $41.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $58.93 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.47 and a beta of 0.88. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s revenue was down 406.0% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a research report on Wednesday, July 9th. Evercore ISI upped their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday. Finally, Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.89.

Insider Buying and Selling

In other news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider owned 500 shares of the company’s stock, valued at $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Truist Financial Company 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.