Benedict Financial Advisors Inc. Takes $229,000 Position in Truist Financial Corporation (NYSE:TFC)

Key Points

• Benedict Financial Advisors Inc. invested approximately $229,000 in Truist Financial Corporation, acquiring 5,565 shares during the first quarter.
• Insider Bradley D. Bender sold 12,540 shares of Truist on July 22, causing a 96.17% decrease in his position within the company.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, resulting in an annualized yield of 4.57%.

Benedict Financial Advisors Inc. purchased a new stake in Truist Financial Corporation (NYSE:TFC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,565 shares of the insurance provider's stock, valued at approximately $229,000.

Other institutional investors have also recently added to or reduced their stakes in the company. TIAA Trust National Association grew its holdings in shares of Truist Financial by 1.2% during the 4th quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock worth $1,033,000 after purchasing an additional 283 shares during the period. Meeder Advisory Services Inc. boosted its stake in Truist Financial by 1.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider's stock worth $1,231,000 after buying an additional 288 shares during the period. Integrated Advisors Network LLC increased its position in shares of Truist Financial by 4.8% during the fourth quarter. Integrated Advisors Network LLC now owns 6,316 shares of the insurance provider's stock valued at $274,000 after acquiring an additional 291 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its position in shares of Truist Financial by 1.6% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 19,657 shares of the insurance provider's stock worth $809,000 after purchasing an additional 305 shares during the period. Finally, Poehling Capital Management INC. boosted its position in shares of Truist Financial by 0.6% during the 4th quarter. Poehling Capital Management INC. now owns 51,201 shares of the insurance provider's stock worth $2,221,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 71.28% of the company's stock.

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the transaction, the insider directly owned 500 shares in the company, valued at approximately $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company's stock.

Truist Financial Stock Up 0.3%

TFC traded up $0.16 on Friday, reaching $45.64. The company's stock had a trading volume of 6,278,182 shares, compared to its average volume of 8,237,608. The business's 50 day moving average is $42.08 and its 200 day moving average is $42.10. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The stock has a market cap of $59.76 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results 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). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The firm's revenue for the quarter was down 406.0% on a year-over-year basis. As a group, research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.56%. Truist Financial's dividend payout ratio (DPR) is 56.68%.

Analysts Set New Price Targets

A number of research firms have commented on TFC. Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.65.

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.