Moors & Cabot Inc. Sells 1,017 Shares of Truist Financial Co. (NYSE:TFC)

Moors & Cabot Inc. decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 72,187 shares of the insurance provider’s stock after selling 1,017 shares during the quarter. Moors & Cabot Inc.’s holdings in Truist Financial were worth $2,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citizens Financial Group Inc. RI boosted its position in Truist Financial by 33.0% during the second quarter. Citizens Financial Group Inc. RI now owns 8,610 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 2,136 shares during the period. Salzhauer Michael lifted its stake in shares of Truist Financial by 136.6% during the 2nd quarter. Salzhauer Michael now owns 72,172 shares of the insurance provider’s stock valued at $2,804,000 after buying an additional 41,672 shares in the last quarter. Menard Financial Group LLC lifted its stake in shares of Truist Financial by 118.4% during the 2nd quarter. Menard Financial Group LLC now owns 17,823 shares of the insurance provider’s stock valued at $692,000 after buying an additional 9,663 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the period. Finally, Plato Investment Management Ltd grew its stake in Truist Financial by 48.2% in the 2nd quarter. Plato Investment Management Ltd now owns 6,537 shares of the insurance provider’s stock valued at $254,000 after buying an additional 2,125 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $41.88 on Wednesday. The firm has a market capitalization of $56.08 billion, a PE ratio of -31.73, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. 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 Co. has a 12 month low of $26.57 and a 12 month high of $45.31. The business’s 50-day moving average price is $42.67 and its 200-day moving average price is $39.44.

Truist Financial (NYSE:TFC) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, 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 SEC, which is available at this link. In other Truist Financial 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial 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 acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TFC. Keefe, Bruyette & Woods increased their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Argus increased their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Wednesday, July 17th. Finally, Bank of America raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average target price of $45.45.

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.