Godsey & Gibb Inc. Acquires 23,443 Shares of Truist Financial Corporation $TFC

Key Points

• Godsey & Gibb Inc. increased its stake in Truist Financial Corporation by 5.1% in the second quarter, now holding 482,894 shares valued at approximately $20.76 million.
• Truist Financial's stock recently traded at $45.39 and has a market cap of $58.53 billion, with a PE ratio of 12.37.
• The company announced a quarterly dividend of $0.52 per share, yielding 4.6% with a payout ratio of 56.68%.

Godsey & Gibb Inc. boosted its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 482,894 shares of the insurance provider's stock after purchasing an additional 23,443 shares during the period. Truist Financial comprises approximately 1.9% of Godsey & Gibb Inc.'s portfolio, making the stock its 29th biggest holding. Godsey & Gibb Inc.'s holdings in Truist Financial were worth $20,760,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kingswood Wealth Advisors LLC boosted its stake in Truist Financial by 2.3% during the second quarter. Kingswood Wealth Advisors LLC now owns 16,185 shares of the insurance provider's stock valued at $696,000 after buying an additional 357 shares during the period. Hardy Reed LLC grew its stake in shares of Truist Financial by 17.8% during the second quarter. Hardy Reed LLC now owns 10,041 shares of the insurance provider's stock valued at $432,000 after buying an additional 1,520 shares during the last quarter. Meitav Investment House Ltd. grew its holdings in shares of Truist Financial by 29.9% in the second quarter. Meitav Investment House Ltd. now owns 32,146 shares of the insurance provider's stock worth $1,382,000 after purchasing an additional 7,396 shares during the last quarter. SteelPeak Wealth LLC increased its position in shares of Truist Financial by 17.6% in the second quarter. SteelPeak Wealth LLC now owns 105,698 shares of the insurance provider's stock valued at $4,544,000 after acquiring an additional 15,800 shares during the period. Finally, Hunter Perkins Capital Management LLC increased its holdings in Truist Financial by 0.4% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 204,272 shares of the insurance provider's stock valued at $8,782,000 after purchasing an additional 870 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $45.39 on Tuesday. The stock has a fifty day moving average price of $45.15 and a 200-day moving average price of $42.11. The firm has a market cap of $58.53 billion, a PE ratio of 12.37, a P/E/G ratio of 1.46 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly 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). The firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The firm's revenue for the quarter was down 406.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. Equities research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial's dividend payout ratio is presently 56.68%.

Insider Activity

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at $22,595. The trade was a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Truist Financial in a research note on Saturday, September 27th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $44.00 to $55.00 in a research note 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 report on Wednesday, July 9th. Finally, Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.89.

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.

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