MFA Wealth Advisors LLC Purchases Shares of 767 Truist Financial Co. (NYSE:TFC)

MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 767 shares of the insurance provider’s stock, valued at approximately $30,000.

Several other institutional investors have also recently modified their holdings of TFC. Daiwa Securities Group Inc. boosted its holdings in shares of Truist Financial by 6.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 119,838 shares of the insurance provider’s stock valued at $4,424,000 after purchasing an additional 6,995 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Truist Financial by 6.3% in the 4th quarter. Greenleaf Trust now owns 14,195 shares of the insurance provider’s stock worth $524,000 after purchasing an additional 838 shares during the period. abrdn plc lifted its stake in shares of Truist Financial by 32.5% in the 4th quarter. abrdn plc now owns 1,116,793 shares of the insurance provider’s stock valued at $41,232,000 after purchasing an additional 273,953 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Truist Financial by 112.5% during the 4th quarter. Lindbrook Capital LLC now owns 5,896 shares of the insurance provider’s stock worth $218,000 after purchasing an additional 3,121 shares during the period. Finally, Signaturefd LLC increased its position in Truist Financial by 2.8% during the 4th quarter. Signaturefd LLC now owns 47,797 shares of the insurance provider’s stock worth $1,765,000 after purchasing an additional 1,282 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of NYSE TFC traded down $0.16 during midday trading on Wednesday, hitting $42.10. 8,700,800 shares of the company’s stock were exchanged, compared to its average volume of 8,356,551. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $56.38 billion, a P/E ratio of -31.89, a PEG ratio of 1.99 and a beta of 1.06. The stock’s 50 day moving average price is $40.61 and its 200-day moving average price is $38.42.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (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 firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. Equities research analysts anticipate that Truist Financial Co. will post 3.56 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.94%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insider Buying and Selling at Truist Financial

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday, July 17th. Morgan Stanley boosted their price target on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.30.

About Truist Financial

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.