Schaper Benz & Wise Investment Counsel Inc. WI Acquires 861 Shares of Truist Financial Co. (NYSE:TFC)

Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 263,351 shares of the insurance provider’s stock after buying an additional 861 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Truist Financial were worth $11,264,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TFC. Crewe Advisors LLC purchased a new position in Truist Financial in the first quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in Truist Financial in the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter valued at $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial in the second quarter worth $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Truist Financial in the second quarter valued at $38,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TFC. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. The Goldman Sachs Group lowered their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.02.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $43.67 on Friday. The company has a market capitalization of $58.43 billion, a P/E ratio of -33.08, a P/E/G ratio of 1.82 and a beta of 1.05. 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 Co. has a 52-week low of $26.95 and a 52-week high of $45.31. The company has a fifty day moving average of $42.67 and a 200-day moving average of $40.30.

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

Truist Financial Dividend Announcement

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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -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.