Truist Financial Co. (NYSE:TFC) is Loudon Investment Management LLC’s 7th Largest Position

Loudon Investment Management LLC lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,627 shares of the insurance provider’s stock after selling 391 shares during the quarter. Truist Financial makes up approximately 2.9% of Loudon Investment Management LLC’s holdings, making the stock its 7th largest holding. Loudon Investment Management LLC’s holdings in Truist Financial were worth $4,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Crewe Advisors LLC purchased a new stake in Truist Financial during the 1st quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new stake in Truist Financial during the 1st quarter worth about $29,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the 2nd quarter worth about $30,000. Missouri Trust & Investment Co boosted its stake in Truist Financial by 227.2% in 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 last quarter. Finally, Rise Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TFC. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and raised their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price target on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Stephens raised their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Barclays raised their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.30.

Truist Financial Stock Down 2.5 %

TFC stock traded down $1.09 during midday trading on Friday, hitting $42.06. 8,589,177 shares of the company’s stock were exchanged, compared to its average volume of 8,317,756. 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 12-month low of $26.57 and a 12-month high of $45.31. The firm has a 50 day moving average price of $42.24 and a 200-day moving average price of $39.05. The stock has a market capitalization of $56.28 billion, a price-to-earnings ratio of -31.86, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06.

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

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.95%. Truist Financial’s dividend payout ratio is presently -157.58%.

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.