MW Advisory LLC Takes Position in Truist Financial Corporation $TFC

MW Advisory LLC bought a new position in shares of Truist Financial Corporation (NYSE:TFC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,135 shares of the insurance provider’s stock, valued at approximately $605,000.

Several other large investors also recently modified their holdings of TFC. 3Chopt Investment Partners LLC grew its stake in Truist Financial by 1.3% during the fourth quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after buying an additional 193 shares in the last quarter. IFP Advisors Inc raised its position in shares of Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after buying an additional 194 shares in the last quarter. PCB Capital LLC raised its position in shares of Truist Financial by 3.0% in the 1st quarter. PCB Capital LLC now owns 6,744 shares of the insurance provider’s stock valued at $310,000 after buying an additional 198 shares in the last quarter. AlphaCore Capital LLC lifted its holdings in shares of Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 199 shares during the period. Finally, CYBER HORNET ETFs LLC lifted its holdings in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 199 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TFC shares. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. UBS Group lowered Truist Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.00 to $55.00 in a research note on Tuesday, July 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. Finally, 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 research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.12.

Insider Activity

In related 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 sale, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52.36, for a total value of $693,770.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 30,516 shares of company stock worth $1,584,428. Insiders own 0.15% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $51.68 on Friday. The company has a 50 day simple moving average of $51.55 and a 200 day simple moving average of $49.58. The stock has a market cap of $63.13 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.08 and a beta of 0.88. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating 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 business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, August 14th. Truist Financial’s dividend payout ratio is presently 47.71%.

Truist Financial Profile

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.