Truist Financial Co. (NYSE:TFC) Shares Bought by Xponance Inc.

Xponance Inc. boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 23.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 225,746 shares of the insurance provider’s stock after buying an additional 42,585 shares during the quarter. Xponance Inc.’s holdings in Truist Financial were worth $8,770,000 at the end of the most recent quarter.

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

Truist Financial Price Performance

NYSE TFC opened at $42.19 on Tuesday. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The stock’s 50-day moving average is $42.83 and its two-hundred day moving average is $39.60. The firm has a market cap of $56.45 billion, a P/E ratio of -31.96, a price-to-earnings-growth ratio of 1.98 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 (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share 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 analyst estimates of $4.83 billion. During the same period in the previous year, the company earned $0.95 EPS. The company’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 fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 transaction of $295,208.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods boosted 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. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Argus lifted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.45.

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.