Sunbelt Securities Inc. Sells 2,066 Shares of Truist Financial Co. (NYSE:TFC)

Sunbelt Securities Inc. decreased its position in Truist Financial Co. (NYSE:TFC) by 42.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,774 shares of the insurance provider’s stock after selling 2,066 shares during the period. Sunbelt Securities Inc.’s holdings in Truist Financial were worth $108,000 as of its most recent filing with the SEC.

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

Truist Financial Trading Down 0.7 %

TFC stock opened at $41.49 on Friday. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The company has a market capitalization of $55.52 billion, a PE ratio of -31.43, a price-to-earnings-growth ratio of 1.95 and a beta of 1.05. The company’s 50-day simple moving average is $42.63 and its 200 day simple moving average is $39.87. 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 announced its earnings results 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 for the quarter, compared to analyst estimates 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 revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.01%. Truist Financial’s payout ratio is -157.58%.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on TFC. Bank of America increased their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a 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. Finally, Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.