Zions Bancorporation N.A. Sells 4,063 Shares of Truist Financial Co. (NYSE:TFC)

Zions Bancorporation N.A. trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,445 shares of the insurance provider’s stock after selling 4,063 shares during the quarter. Zions Bancorporation N.A.’s holdings in Truist Financial were worth $5,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Truist Financial in the first quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Truist Financial in the 1st quarter valued at approximately $29,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial in the 2nd quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial during the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC bought a new position in Truist Financial in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TFC. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Argus upped their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group lifted their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Barclays upped their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average target price of $45.45.

Truist Financial Stock Down 0.0 %

Truist Financial stock opened at $41.63 on Friday. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The company’s 50-day moving average is $42.46 and its 200-day moving average is $39.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.00%. Truist Financial’s dividend payout ratio is currently -157.58%.

Truist Financial 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.