Arkadios Wealth Advisors Acquires 48,614 Shares of Truist Financial Corporation (NYSE:TFC)

Arkadios Wealth Advisors boosted its stake in Truist Financial Corporation (NYSE:TFC - Free Report) by 38.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,163 shares of the insurance provider's stock after acquiring an additional 48,614 shares during the quarter. Arkadios Wealth Advisors' holdings in Truist Financial were worth $7,208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFC. Brighton Jones LLC raised its position in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Truist Financial by 2.1% in the fourth quarter. Schroder Investment Management Group now owns 961,234 shares of the insurance provider's stock worth $41,689,000 after purchasing an additional 19,320 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Truist Financial by 9.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 170,711 shares of the insurance provider's stock worth $7,503,000 after purchasing an additional 14,340 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new position in Truist Financial during the fourth quarter worth about $59,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in Truist Financial by 8.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 182,704 shares of the insurance provider's stock worth $7,926,000 after acquiring an additional 14,968 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Shares of NYSE:TFC traded down $0.75 during trading on Friday, hitting $42.96. 8,454,705 shares of the stock were exchanged, compared to its average volume of 8,734,741. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a market capitalization of $56.26 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.65 and a beta of 0.85. The company's fifty day simple moving average is $42.42 and its 200-day simple moving average is $42.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. Truist Financial's revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. Sell-side analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.8%. Truist Financial's payout ratio is currently 56.68%.

Insider Buying and Selling

In other news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Keefe, Bruyette & Woods lowered Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target for the company. in a research report on Wednesday, July 9th. JPMorgan Chase & Co. decreased their price target on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Stephens decreased their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.65.

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.