Sanctuary Advisors LLC Has $14.71 Million Stock Position in Truist Financial Corporation $TFC

Sanctuary Advisors LLC lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,323 shares of the insurance provider’s stock after purchasing an additional 51,279 shares during the quarter. Sanctuary Advisors LLC’s holdings in Truist Financial were worth $14,713,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in Truist Financial in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new position in Truist Financial in the fourth quarter worth approximately $26,000. N.E.W. Advisory Services LLC bought a new position in Truist Financial in the second quarter worth approximately $30,000. Navigoe LLC acquired a new stake in Truist Financial in the second quarter valued at approximately $30,000. Finally, McMillan Office Inc. acquired a new stake in Truist Financial in the fourth quarter valued at approximately $31,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

TFC stock opened at $50.48 on Monday. The company has a market capitalization of $61.67 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.06 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52-week low of $40.78 and a 52-week high of $56.19. The business has a 50-day simple moving average of $51.26 and a two-hundred day simple moving average of $49.80.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. Research analysts expect that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial’s payout ratio is presently 47.71%.

Insider Buying and Selling

In other Truist Financial news, insider Donta L. Wilson sold 13,280 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider directly owned 56,009 shares in the company, valued at approximately $2,904,066.65. This trade represents a 19.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 30,516 shares of company stock worth $1,584,428. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on TFC. Robert W. Baird boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their target price on Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Bank of America restated a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Finally, UBS Group downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $58.00 to $55.00 in a report on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.12.

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.