Tidal Investments LLC Sells 4,893 Shares of Truist Financial Co. (NYSE:TFC)

Tidal Investments LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,899 shares of the insurance provider’s stock after selling 4,893 shares during the quarter. Tidal Investments LLC’s holdings in Truist Financial were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in Truist Financial during the first quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial during the first quarter valued at approximately $29,000. Rise Advisors LLC bought a new stake in shares of Truist Financial during the first quarter valued at approximately $32,000. Missouri Trust & Investment Co grew its stake in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $34,000. 71.28% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William H. Rogers, Jr. bought 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 4.3 %

Truist Financial stock traded down $1.88 during mid-day trading on Friday, reaching $41.47. The company’s stock had a trading volume of 1,905,801 shares, compared to its average volume of 8,460,232. The business’s 50 day simple moving average is $39.24 and its 200 day simple moving average is $37.94. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $45.31. The company has a market capitalization of $55.49 billion, a price-to-earnings ratio of -31.71, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm posted $0.95 EPS. The company’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, research analysts anticipate that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TFC shares. Argus increased their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada increased their price target on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. HSBC increased their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $45.30.

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.