Truist Financial Co. (NYSE:TFC) Shares Sold by Loudon Investment Management LLC

Loudon Investment Management LLC lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.3% in the second quarter, HoldingsChannel reports. The firm owned 125,627 shares of the insurance provider’s stock after selling 391 shares during the quarter. Truist Financial makes up approximately 2.9% of Loudon Investment Management LLC’s holdings, making the stock its 7th largest holding. Loudon Investment Management LLC’s holdings in Truist Financial were worth $4,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital Investment Counsel Inc boosted its position in Truist Financial by 0.4% during the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after acquiring an additional 244 shares during the period. Verum Partners LLC boosted its position in Truist Financial by 2.5% during the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock worth $411,000 after acquiring an additional 261 shares during the period. CX Institutional boosted its position in Truist Financial by 3.4% during the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 263 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Truist Financial by 2.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock worth $557,000 after acquiring an additional 275 shares during the period. Finally, Texas Yale Capital Corp. boosted its position in Truist Financial by 2.4% during the 1st quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock worth $472,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TFC. Stephens upped their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Wednesday, July 17th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and upped their price objective for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.30.

Truist Financial Stock Down 2.5 %

Truist Financial stock traded down $1.09 during mid-day trading on Friday, hitting $42.06. The company’s stock had a trading volume of 8,589,177 shares, compared to its average volume of 8,317,756. The firm’s 50 day moving average is $42.24 and its 200 day moving average is $39.05. The company has a market cap of $56.28 billion, a PE ratio of -31.86, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31.

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

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Transactions at Truist Financial

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

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.