Trust Co. of Vermont Buys Shares of 25,445 Truist Financial Corporation $TFC

Trust Co. of Vermont purchased a new position in Truist Financial Corporation (NYSE:TFC) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 25,445 shares of the insurance provider’s stock, valued at approximately $1,268,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Financial Partners Inc. lifted its holdings in Truist Financial by 30.0% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock valued at $7,994,000 after buying an additional 40,393 shares in the last quarter. Fifth Third Bancorp boosted its position in Truist Financial by 531.8% in the 1st quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock valued at $20,059,000 after buying an additional 367,291 shares during the period. Franklin Street Advisors Inc. NC grew its stake in Truist Financial by 129.1% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 37,253 shares of the insurance provider’s stock worth $1,856,000 after acquiring an additional 20,991 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of Truist Financial by 77.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 158,394 shares of the insurance provider’s stock worth $7,795,000 after acquiring an additional 68,990 shares during the period. Finally, Concord Asset Management LLC VA increased its position in shares of Truist Financial by 528.6% during the fourth quarter. Concord Asset Management LLC VA now owns 65,686 shares of the insurance provider’s stock worth $3,232,000 after acquiring an additional 55,237 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Down 0.1%

NYSE TFC opened at $52.46 on Wednesday. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $64.08 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.12 and a beta of 0.89. The company’s 50-day simple moving average is $51.27 and its two-hundred day simple moving average is $49.82.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,986 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total transaction of $202,090.20. Following the sale, the director owned 10,270 shares of the company’s stock, valued at $520,689. This trade represents a 27.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donta L. Wilson sold 13,280 shares of Truist Financial stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the transaction, the insider owned 56,009 shares in the company, valued at $2,904,066.65. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 30,516 shares of company stock worth $1,584,428. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research note on Wednesday, July 1st. Morgan Stanley restated an “equal weight” rating and set a $54.00 price objective (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Stephens lowered their target price on Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.67.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.