Dover Advisors LLC Has $963,000 Stake in Truist Financial Corporation $TFC

Dover Advisors LLC decreased its position in Truist Financial Corporation (NYSE:TFC) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,409 shares of the insurance provider’s stock after selling 1,351 shares during the quarter. Dover Advisors LLC’s holdings in Truist Financial were worth $963,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at approximately $25,000. Centennial Bank AR boosted its position in Truist Financial by 360.2% during the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares during the period. Motco boosted its position in Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. boosted its position 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 purchasing an additional 468 shares during the period. Finally, Sierra Ocean LLC boosted its position in Truist Financial by 64.4% during the first quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 352 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TFC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price target for the company. in a report on Wednesday, July 9th. Morgan Stanley reiterated a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $48.47.

Insider Activity at Truist Financial

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

Truist Financial Stock Performance

Shares of NYSE TFC opened at $45.22 on Monday. The business has a fifty day simple moving average of $45.02 and a 200 day simple moving average of $41.69. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $58.30 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.69 and a beta of 0.88. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio is currently 56.68%.

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.