Wealthcare Advisory Partners LLC Has $9.09 Million Stake in Truist Financial Corporation $TFC

Key Points

• Wealthcare Advisory Partners LLC has reduced its stake in Truist Financial Corporation by 8.4% in the second quarter, now owning approximately $9.09 million worth of shares.
• Truist Financial reported earnings per share (EPS) of $0.91 for the last quarter, missing estimates by $0.02, with revenue of $5.04 billion.
• The company declared a quarterly dividend of $0.52 per share, resulting in an annualized yield of 4.6%, with a payout ratio of 56.68%.

Wealthcare Advisory Partners LLC reduced its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 8.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,369 shares of the insurance provider's stock after selling 19,335 shares during the period. Wealthcare Advisory Partners LLC's holdings in Truist Financial were worth $9,087,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TFC. Brighton Jones LLC increased its holdings in Truist Financial by 148.5% in the fourth 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 during the last quarter. Naples Global Advisors LLC increased its stake in shares of Truist Financial by 3.4% in the 1st quarter. Naples Global Advisors LLC now owns 14,420 shares of the insurance provider's stock valued at $593,000 after acquiring an additional 468 shares during the last quarter. Curat Global LLC acquired a new stake in shares of Truist Financial in the 1st quarter valued at approximately $101,000. Procyon Advisors LLC boosted its stake in Truist Financial by 50.4% during the 1st quarter. Procyon Advisors LLC now owns 24,473 shares of the insurance provider's stock worth $917,000 after acquiring an additional 8,204 shares during the last quarter. Finally, Gateway Investment Advisers LLC acquired a new position in Truist Financial during the first quarter valued at approximately $205,000. Institutional investors and hedge funds own 71.28% of the company's stock.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the 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 sale, the insider owned 500 shares in the company, valued at $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.17% of the company's stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $45.53 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $45.15 and a 200-day moving average of $42.08. The stock has a market capitalization of $58.71 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.46 and a beta of 0.88. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

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 (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company 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%.The business's revenue was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, sell-side analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TFC shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Truist Financial in a research report on Saturday, September 27th. Morgan Stanley boosted their target price on Truist Financial from $48.00 to $54.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and raised their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. 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 report on Wednesday, July 9th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and a consensus price target 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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