Truist Financial Co. (NYSE:TFC) Shares Bought by AMG National Trust Bank

AMG National Trust Bank raised its stake in Truist Financial Co. (NYSE:TFC) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,301 shares of the insurance provider’s stock after acquiring an additional 1,354 shares during the period. AMG National Trust Bank’s holdings in Truist Financial were worth $6,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Investment Counsel Inc boosted its position in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after buying an additional 244 shares during the period. Verum Partners LLC raised its stake in Truist Financial by 2.5% during the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after purchasing an additional 261 shares during the period. CX Institutional raised its stake in Truist Financial by 3.4% during the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 263 shares during the period. Valmark Advisers Inc. grew its holdings in shares of Truist Financial by 2.2% during the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 277 shares in the last quarter. Finally, Texas Yale Capital Corp. grew its holdings in shares of Truist Financial by 2.4% during the 1st quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock valued at $472,000 after acquiring an additional 280 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 4.7 %

TFC stock traded up $1.97 during midday trading on Friday, reaching $43.84. The company’s stock had a trading volume of 10,157,890 shares, compared to its average volume of 8,397,076. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The stock has a market cap of $58.66 billion, a PE ratio of -33.21, a price-to-earnings-growth ratio of 1.99 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The business’s 50-day simple moving average is $40.89 and its 200-day simple moving average is $38.52.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period last year, the business posted $0.95 earnings per share. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, sell-side analysts expect that Truist Financial Co. will post 3.56 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.30.

About Truist Financial

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.