Truist Financial Corporation $TFC Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its position in shares of Truist Financial Corporation (NYSE:TFC) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,230 shares of the insurance provider’s stock after selling 3,665 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Truist Financial were worth $2,245,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. New Century Financial Group LLC boosted its position in Truist Financial by 3.6% during the second quarter. New Century Financial Group LLC now owns 27,969 shares of the insurance provider’s stock worth $1,202,000 after acquiring an additional 964 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Truist Financial during the second quarter worth approximately $182,000. Abundance Wealth Counselors boosted its position in Truist Financial by 1.6% during the second quarter. Abundance Wealth Counselors now owns 45,886 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 723 shares during the last quarter. Hilltop National Bank acquired a new stake in Truist Financial during the second quarter worth approximately $543,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Truist Financial by 4.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 163,325 shares of the insurance provider’s stock worth $7,021,000 after acquiring an additional 7,224 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $45.53 on Friday. The firm’s 50 day moving average is $45.15 and its two-hundred day moving average is $42.07. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a market cap of $58.71 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.45 and a beta of 0.88.

Truist Financial (NYSE:TFC) last posted its earnings results 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 business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business’s revenue was down 406.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. Analysts expect that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on TFC. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research report on Saturday, September 27th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. 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 research note on Wednesday, July 9th. Finally, Evercore ISI increased their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $48.89.

Insider Buying and Selling at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on 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. The trade was a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.