Truist Financial Corporation $TFC Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc decreased its position in Truist Financial Corporation (NYSE:TFC) by 26.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,925 shares of the insurance provider’s stock after selling 705 shares during the period. AdvisorNet Financial Inc’s holdings in Truist Financial were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Truist Financial in the 4th quarter valued at $446,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Truist Financial by 73.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 853,013 shares of the insurance provider’s stock valued at $37,004,000 after acquiring an additional 360,227 shares during the last quarter. First Hawaiian Bank increased its stake in shares of Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after acquiring an additional 948 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Truist Financial by 144.3% during the first quarter. Versant Capital Management Inc now owns 3,208 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 1,895 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock opened at $46.06 on Friday. The stock has a market capitalization of $59.39 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.47 and a beta of 0.88. The company’s fifty day moving average price is $45.12 and its 200 day moving average price is $41.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06.

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 analysts’ consensus estimates 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 posted $0.91 earnings per share. The business’s revenue was down 406.0% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business 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 of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. Truist Financial’s dividend payout ratio (DPR) is currently 56.68%.

Analysts Set New Price Targets

Several equities research analysts have commented on TFC shares. Keefe, Bruyette & Woods lowered 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. Morgan Stanley reaffirmed a “mixed” rating on shares of Truist Financial in a report on Monday, July 21st. Raymond James Financial upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Tuesday, July 8th. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $55.00 in a report on Thursday, June 26th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.47.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial 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.