LaFleur & Godfrey LLC Sells 10,817 Shares of Truist Financial Corporation $TFC

Key Points

• LaFleur & Godfrey LLC sold 10,817 shares of Truist Financial Corporation, reducing its position by 8.4% to 118,553 shares, valued at approximately $5.1 million.
• Truist Financial recently reported $0.91 EPS, missing estimates of $0.93, with a revenue of $5.04 billion for the quarter.
• The company announced a quarterly dividend of $0.52, representing a 4.5% yield, with a dividend payout ratio of 56.68%.

LaFleur & Godfrey LLC decreased its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 8.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 118,553 shares of the insurance provider's stock after selling 10,817 shares during the period. LaFleur & Godfrey LLC's holdings in Truist Financial were worth $5,097,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Truist Financial by 4.1% during the 2nd quarter. GAMMA Investing LLC now owns 29,255 shares of the insurance provider's stock worth $1,258,000 after purchasing an additional 1,154 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Truist Financial by 7.2% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,545 shares of the insurance provider's stock worth $840,000 after acquiring an additional 1,320 shares during the last quarter. Abound Wealth Management increased its holdings in shares of Truist Financial by 134.7% during the 2nd quarter. Abound Wealth Management now owns 2,089 shares of the insurance provider's stock worth $90,000 after acquiring an additional 1,199 shares during the last quarter. Bank & Trust Co increased its holdings in shares of Truist Financial by 1.7% during the 2nd quarter. Bank & Trust Co now owns 26,081 shares of the insurance provider's stock worth $1,121,000 after acquiring an additional 426 shares during the last quarter. Finally, Orrstown Financial Services Inc. acquired a new position in shares of Truist Financial during the 2nd quarter worth approximately $524,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

Shares of TFC stock opened at $45.97 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a market cap of $59.28 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.71 and a beta of 0.88. The business has a fifty day simple moving average of $45.02 and a 200 day simple moving average of $41.73.

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 business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.Truist Financial's quarterly revenue was down 406.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, sell-side analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were given a $0.52 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.5%. Truist Financial's dividend payout ratio (DPR) is currently 56.68%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares in the company, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.

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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