Sanctuary Advisors LLC Buys New Stake in Truist Financial Co. (NYSE:TFC)

Sanctuary Advisors LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 225,461 shares of the insurance provider’s stock, valued at approximately $8,606,000.

Several other institutional investors and hedge funds also recently modified their holdings of TFC. Farmers National Bank lifted its holdings in Truist Financial by 18.9% in the second quarter. Farmers National Bank now owns 54,935 shares of the insurance provider’s stock worth $2,134,000 after purchasing an additional 8,726 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Truist Financial during the 2nd quarter worth about $254,000. 3Chopt Investment Partners LLC acquired a new stake in shares of Truist Financial in the 2nd quarter worth approximately $331,000. Ted Buchan & Co bought a new position in shares of Truist Financial in the second quarter valued at approximately $337,000. Finally, Truist Financial Corp increased its stake in shares of Truist Financial by 6.7% during the second quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after acquiring an additional 311,523 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TFC. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group lifted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Barclays lifted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. 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 equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $45.45.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was acquired 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 directly owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’s 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 filing with the SEC, which is accessible through this link. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’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 completion of the acquisition, the chief executive officer now directly 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.

Truist Financial Price Performance

Shares of TFC opened at $41.49 on Friday. The business’s 50-day moving average is $42.63 and its 200-day moving average is $39.87. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $55.52 billion, a price-to-earnings ratio of -31.43, a P/E/G ratio of 1.95 and a beta of 1.05. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Equities research analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

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