HF Advisory Group LLC Raises Stock Position in Truist Financial Corporation $TFC

Key Points

• HF Advisory Group LLC boosted its holdings in Truist Financial by 36.4%, owning 54,694 shares worth approximately $2.35 million.
• Insider Bradley D. Bender sold 12,540 shares of Truist Financial for over $566,000, significantly reducing his ownership in the company.
• Truist Financial reported $0.91 earnings per share for the last quarter, missing estimates by $0.02, while revenues remained stable at $5.04 billion.

HF Advisory Group LLC lifted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 36.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,694 shares of the insurance provider's stock after buying an additional 14,598 shares during the period. HF Advisory Group LLC's holdings in Truist Financial were worth $2,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TFC. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial during the first quarter worth approximately $25,000. Centennial Bank AR increased its position in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 580 shares during the period. Motco lifted its holdings in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider's stock worth $33,000 after buying an additional 649 shares during the period. Meeder Asset Management Inc. lifted its holdings in Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider's stock worth $36,000 after buying an additional 468 shares during the period. Finally, Sierra Ocean LLC lifted its stake in shares of Truist Financial by 64.4% in the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 352 shares during the period. Institutional investors own 71.28% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Tuesday, July 8th. Wells Fargo & Company restated an "equal weight" rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley reiterated a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods cut Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective on the stock. in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $48.47.

Truist Financial Price Performance

Shares of NYSE TFC traded down $0.55 during mid-day trading on Monday, hitting $45.44. 6,339,475 shares of the company's stock traded hands, compared to its average volume of 8,177,447. The company has a market capitalization of $58.59 billion, a P/E ratio of 12.38, a PEG ratio of 1.71 and a beta of 0.88. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The company's 50-day moving average is $45.01 and its two-hundred day moving average is $41.76. 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 issued its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS 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 the consensus estimate of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The business's revenue for the quarter was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

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.