JT Stratford LLC Sells 29,173 Shares of Truist Financial Corporation $TFC

JT Stratford LLC lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 44.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,157 shares of the insurance provider’s stock after selling 29,173 shares during the quarter. JT Stratford LLC’s holdings in Truist Financial were worth $1,529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Navigoe LLC bought a new stake in shares of Truist Financial in the 4th quarter worth $26,000. Centennial Bank AR grew its stake 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 worth $30,000 after acquiring an additional 580 shares in the last quarter. Motco grew its stake in shares of Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 468 shares in the last quarter. Finally, Sierra Ocean LLC grew its stake in shares of Truist Financial by 64.4% in the 1st 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. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.1%

Shares of TFC opened at $44.37 on Tuesday. The business’s 50-day moving average price is $43.39 and its 200-day moving average price is $41.81. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The stock has a market cap of $57.21 billion, a PE ratio of 12.09, a P/E/G ratio of 1.66 and a beta of 0.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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). The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The firm’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same quarter last year, the company posted $0.91 earnings per share. On average, equities analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, August 8th. Truist Financial’s dividend payout ratio is 56.68%.

Wall Street Analysts Forecast Growth

TFC has been the subject of several recent analyst reports. Stephens reduced their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Argus set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 21st. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a report on Wednesday, July 9th. Finally, Piper Sandler cut their price target on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $48.65.

Insider Buying and Selling at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider directly owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

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.