Truist Financial Co. (NYSE:TFC) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 13.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,480 shares of the insurance provider’s stock after selling 1,640 shares during the period. Park Place Capital Corp’s holdings in Truist Financial were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Investment Counsel Inc raised its holdings in shares of Truist Financial by 0.4% during the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock valued at $2,413,000 after acquiring an additional 244 shares during the last quarter. Verum Partners LLC lifted its holdings in Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after purchasing an additional 261 shares in the last quarter. CX Institutional lifted its holdings in Truist Financial by 3.4% in the 2nd quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock valued at $313,000 after purchasing an additional 263 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Truist Financial by 1.5% during the 2nd quarter. Coldstream Capital Management Inc. now owns 18,593 shares of the insurance provider’s stock worth $722,000 after purchasing an additional 274 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Truist Financial by 2.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,339 shares of the insurance provider’s stock worth $557,000 after buying an additional 275 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TFC. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Barclays boosted their price objective on 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, The Goldman Sachs Group raised their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average target price of $45.45.

Truist Financial Trading Up 0.5 %

Shares of TFC traded up $0.21 during midday trading on Tuesday, hitting $42.21. 1,350,337 shares of the stock were exchanged, compared to its average volume of 8,191,938. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $56.48 billion, a P/E ratio of -31.89, a P/E/G ratio of 1.92 and a beta of 1.05. Truist Financial Co. has a 52-week low of $26.91 and a 52-week high of $45.31. The stock has a fifty day simple moving average of $42.54 and a 200 day simple moving average of $40.00.

Truist Financial (NYSE:TFC) last released its earnings results 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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. On average, research analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

Insiders Place Their Bets

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were 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 accessible through the SEC website. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction 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 trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the 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 owned by company insiders.

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.