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Truist Financial Corporation (NYSE:TFC) Insider Sells $566,682.60 in Stock

Truist Financial logo with Finance background

Truist Financial Corporation (NYSE:TFC - Get Free Report) insider Bradley D. Bender sold 12,540 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction 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 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 is accessible through this link.

Truist Financial Stock Performance

NYSE:TFC traded down $0.59 on Monday, reaching $45.06. 5,655,945 shares of the company's stock were exchanged, compared to its average volume of 8,786,011. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The firm has a market cap of $59.01 billion, a price-to-earnings ratio of 12.28, a P/E/G 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. The stock has a fifty day simple moving average of $42.08 and a 200-day simple moving average of $42.09.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.02). The firm had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The company's quarterly revenue was down 406.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, sell-side analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 56.68%.

Wall Street Analyst Weigh In

Several research firms recently commented on TFC. Barclays cut their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. TD Cowen initiated coverage on shares of Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price target on the stock. Finally, Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price target on the stock. in a research report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.65.

Check Out Our Latest Report on Truist Financial

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TFC. Capital International Investors grew its holdings in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the last quarter. Norges Bank bought a new position in shares of Truist Financial in the fourth quarter worth approximately $402,828,000. Victory Capital Management Inc. boosted its holdings in Truist Financial by 922.9% in the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider's stock valued at $274,237,000 after acquiring an additional 6,012,817 shares in the last quarter. FMR LLC boosted its holdings in Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock valued at $540,723,000 after acquiring an additional 3,188,999 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Company Profile

(Get Free Report)

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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