Truist Financial Corporation (NYSE:TFC – Get Free Report) insider Donta Wilson sold 13,280 shares of Truist Financial stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider directly owned 56,009 shares in the company, valued at approximately $2,904,066.65. This represents a 19.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Truist Financial Stock Performance
Shares of TFC stock traded up $0.75 on Tuesday, hitting $52.67. 1,065,272 shares of the stock were exchanged, compared to its average volume of 9,287,349. The firm’s 50 day moving average is $50.34 and its two-hundred day moving average is $49.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19. The firm has a market capitalization of $65.62 billion, a PE ratio of 12.07, a P/E/G ratio of 0.94 and a beta of 0.89.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in TFC. Kemnay Advisory Services Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in shares of Truist Financial in the 4th quarter worth approximately $26,000. McMillan Office Inc. bought a new position in shares of Truist Financial during the fourth quarter valued at approximately $31,000. Maseco LLP increased its holdings in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on TFC shares. Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $63.00 to $54.00 in a research note on Tuesday, June 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.67.
Check Out Our Latest Research Report on TFC
About Truist Financial
Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.
Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.
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