Caprock Group LLC Buys 7,186 Shares of Truist Financial Co. (NYSE:TFC)

Caprock Group LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 22.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,069 shares of the insurance provider’s stock after acquiring an additional 7,186 shares during the quarter. Caprock Group LLC’s holdings in Truist Financial were worth $1,518,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Crewe Advisors LLC purchased a new position in Truist Financial in the first quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in Truist Financial in the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the 2nd quarter valued at approximately $30,000. Missouri Trust & Investment Co boosted its stake in Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter worth $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TFC. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America raised their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Argus boosted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised their target price on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Stephens raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.30.

Insider Activity

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

Truist Financial Trading Up 1.3 %

Shares of Truist Financial stock opened at $42.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market cap of $57.05 billion, a price-to-earnings ratio of -32.27, a PEG ratio of 1.97 and a beta of 1.06. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31. The business has a 50-day moving average price of $42.30 and a 200-day moving average price of $39.15.

Truist Financial (NYSE:TFC) last issued 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 business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the firm earned $0.95 EPS. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. Equities research analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.