Trust Co. of Toledo NA OH Sells 9,903 Shares of Truist Financial Corporation $TFC

Trust Co. of Toledo NA OH lowered its holdings in Truist Financial Corporation (NYSE:TFC) by 21.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,253 shares of the insurance provider’s stock after selling 9,903 shares during the period. Trust Co. of Toledo NA OH’s holdings in Truist Financial were worth $1,559,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TFC. Wealth Preservation Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $25,000. Centennial Bank AR lifted its holdings in shares of Truist Financial by 360.2% during 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 during the period. Motco lifted its holdings in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares during the period. Ramirez Asset Management Inc. lifted its holdings in shares of Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Truist Financial by 115.3% during 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 during the period. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In related news, insider Bradley D. Bender sold 12,540 shares of the firm’s stock in a transaction dated 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 directly owned 500 shares of the company’s stock, valued at $22,595. This trade 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 available at this link. 0.17% of the stock is owned by insiders.

Truist Financial Stock Down 4.4%

Shares of NYSE TFC opened at $42.32 on Friday. The firm has a market cap of $54.57 billion, a PE ratio of 11.53, a P/E/G ratio of 1.42 and a beta of 0.88. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The company’s fifty day simple moving average is $45.16 and its 200 day simple moving average is $42.16. 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 issued its earnings results 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 the consensus estimate of $5.04 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was down 406.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio (DPR) is presently 56.68%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Evercore ISI increased their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company 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 objective for the company. in a research note on Wednesday, July 9th. Finally, Morgan Stanley increased their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.89.

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.