Truist Financial Co. (NYSE:TFC) Shares Bought by Hengehold Capital Management LLC

Hengehold Capital Management LLC raised its position in Truist Financial Co. (NYSE:TFC) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,933 shares of the insurance provider’s stock after acquiring an additional 4,267 shares during the period. Hengehold Capital Management LLC’s holdings in Truist Financial were worth $3,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TFC. B.O.S.S. Retirement Advisors LLC lifted its stake in shares of Truist Financial by 3.6% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 40,135 shares of the insurance provider’s stock worth $1,717,000 after buying an additional 1,380 shares during the period. LaFleur & Godfrey LLC lifted its stake in shares of Truist Financial by 1.2% during the third quarter. LaFleur & Godfrey LLC now owns 103,498 shares of the insurance provider’s stock worth $4,427,000 after buying an additional 1,208 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Truist Financial by 1.9% during the third quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock worth $954,000 after buying an additional 426 shares during the period. Leisure Capital Management lifted its stake in shares of Truist Financial by 4.7% during the third quarter. Leisure Capital Management now owns 18,165 shares of the insurance provider’s stock worth $777,000 after buying an additional 819 shares during the period. Finally, Jamison Private Wealth Management Inc. lifted its stake in shares of Truist Financial by 5.0% during the third quarter. Jamison Private Wealth Management Inc. now owns 134,552 shares of the insurance provider’s stock worth $5,755,000 after buying an additional 6,412 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TFC shares. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America raised their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reduced their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday. Finally, StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $45.97.

Truist Financial Stock Performance

NYSE:TFC opened at $44.09 on Thursday. 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 capitalization of $59.00 billion, a price-to-earnings ratio of -33.72, a PEG ratio of 1.78 and a beta of 1.05. The company’s 50-day moving average is $42.61 and its two-hundred day moving average is $40.23. Truist Financial Co. has a 1-year low of $26.95 and a 1-year 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 for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates 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 revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. Analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -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.