Trust Co. of Toledo NA OH Sells 9,903 Shares of Truist Financial Corporation $TFC

Trust Co. of Toledo NA OH reduced its position in Truist Financial Corporation (NYSE:TFC) by 21.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,253 shares of the insurance provider’s stock after selling 9,903 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Truist Financial were worth $1,559,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Amundi lifted its position in Truist Financial by 4.6% during the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after purchasing an additional 1,091,311 shares during the last quarter. Invesco Ltd. lifted its position in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after purchasing an additional 3,188,999 shares during the last quarter. American Century Companies Inc. lifted its position in Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after purchasing an additional 2,158,639 shares during the last quarter. Federated Hermes Inc. lifted its position in Truist Financial by 0.9% during the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock valued at $391,404,000 after purchasing an additional 89,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Truist Financial by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock valued at $330,408,000 after purchasing an additional 408,726 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Transactions at Truist Financial

In other Truist Financial 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 transaction, the insider owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Morgan Stanley boosted their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.89.

Truist Financial Stock Down 4.4%

Shares of Truist Financial stock opened at $42.32 on Friday. The company’s fifty day simple moving average is $45.16 and its two-hundred day simple moving average is $42.16. The company has a market cap of $54.57 billion, a P/E ratio of 11.53, a PEG ratio of 1.42 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.9%. Truist Financial’s payout ratio is presently 56.68%.

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.