Trust Co. of Vermont Has $1.40 Million Holdings in Truist Financial Co. (NYSE:TFC)

Trust Co. of Vermont trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,778 shares of the insurance provider’s stock after selling 1,796 shares during the period. Trust Co. of Vermont’s holdings in Truist Financial were worth $1,402,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norden Group LLC bought a new stake in Truist Financial during the first quarter worth $2,351,000. Nordea Investment Management AB boosted its stake in Truist Financial by 44.4% in the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after buying an additional 834,048 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Truist Financial in the first quarter valued at about $516,000. M&G Plc bought a new position in Truist Financial in the second quarter valued at about $2,804,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 1.7 %

NYSE:TFC opened at $43.67 on Friday. The firm has a fifty day simple moving average of $42.67 and a two-hundred day simple moving average of $40.29. Truist Financial Co. has a 12 month low of $26.95 and a 12 month high of $45.31. The stock has a market capitalization of $58.43 billion, a price-to-earnings ratio of -33.08, a PEG ratio of 1.82 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion during 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 firm’s revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. Analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is currently -157.58%.

Analysts Set New Price Targets

TFC has been the subject of a number of research analyst reports. Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday. Finally, UBS Group upped their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.02.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Company 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.