Truist Financial (NYSE:TFC) Insider Donta Wilson Sells 13,280 Shares

Key Points

• Truist insider Donta Wilson sold 13,280 shares at an average price of $51.85, generating $688,568 and reducing his holdings by 19.17% to 56,009 shares.
• Truist reported quarterly EPS of $1.23, beating estimates of $1.08, while revenue rose 5.6% year over year to $5.31 billion. The company also declared a quarterly dividend of $0.52 per share, implying a 3.9% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $54.67, compared with the stock’s recent price of $52.67; institutional investors own 71.28% of outstanding shares.

Truist Financial Corporation (NYSE:TFC - Get Free Report) insider Donta Wilson sold 13,280 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the sale, the insider owned 56,009 shares in the company, valued at $2,904,066.65. This represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Truist Financial Stock Performance

TFC traded up $0.75 on Tuesday, reaching $52.67. The company had a trading volume of 1,065,272 shares, compared to its average volume of 9,287,349. The stock has a market cap of $65.62 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The company's fifty day moving average is $50.34 and its 200 day moving average is $49.63.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the prior year, the firm posted $0.91 EPS. The company's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts predict that Truist Financial Corporation will post 4.59 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, August 14th. Truist Financial's dividend payout ratio is presently 47.71%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Auto Owners Insurance Co lifted its stake in shares of Truist Financial by 4,821.0% in the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider's stock worth $697,428,000 after acquiring an additional 13,884,480 shares during the period. Wellington Management Group LLP grew its position in shares of Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider's stock worth $474,886,000 after buying an additional 10,310,523 shares during the period. Norges Bank acquired a new stake in Truist Financial in the fourth quarter worth $502,340,000. American Assets Investment Management LLC increased its holdings in shares of Truist Financial by 781.2% during the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider's stock valued at $166,527,000 after acquiring an additional 3,000,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Truist Financial by 37.6% during the 4th quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider's stock valued at $516,732,000 after purchasing an additional 2,867,449 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TFC. Stephens dropped their target price on shares of Truist Financial from $59.00 to $57.00 and set an "overweight" rating for the company in a research report on Tuesday, July 21st. Raymond James Financial reiterated a "market perform" rating on shares of Truist Financial in a research note on Wednesday, July 1st. Evercore restated an "outperform" rating and set a $57.00 price objective on shares of Truist Financial in a research report on Monday, July 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Truist Financial in a research report on Wednesday, July 29th. Finally, UBS Group cut shares of Truist Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $58.00 to $55.00 in a report on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of "Hold" and an average price target of $54.67.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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