Truist Financial Co. (NYSE:TFC) Stake Boosted by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV increased its position in shares of Truist Financial Co. (NYSE:TFC) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,188 shares of the insurance provider’s stock after acquiring an additional 6,544 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Truist Financial were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFC. Crewe Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter worth $29,000. Missouri Trust & Investment Co boosted its holdings in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after buying an additional 593 shares during the period. Rise Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at $32,000. Finally, Morton Brown Family Wealth LLC raised its holdings in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TFC shares. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group lifted their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. HSBC boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.30.

Truist Financial Trading Down 2.2 %

TFC traded down $0.94 during midday trading on Monday, hitting $41.18. The company had a trading volume of 8,684,062 shares, compared to its average volume of 8,525,773. The firm’s 50-day simple moving average is $39.32 and its 200-day simple moving average is $38.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. Truist Financial’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. On average, analysts forecast that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Transactions at Truist Financial

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

Truist Financial 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.