Truist Financial (NYSE:TFC) Trading Down 5.2%

Truist Financial Co. (NYSE:TFC – Get Rating)’s stock price traded down 5.2% during trading on Friday . The company traded as low as $31.00 and last traded at $31.24. 3,510,776 shares were traded during mid-day trading, a decline of 65% from the average session volume of 9,959,266 shares. The stock had previously closed at $32.94.

Analysts Set New Price Targets

TFC has been the subject of several research analyst reports. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday. Morgan Stanley reduced their price objective on Truist Financial from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, January 20th. Jefferies Financial Group upgraded shares of Truist Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 9th. StockNews.com assumed coverage on shares of Truist Financial in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from $47.00 to $45.00 in a research report on Sunday, March 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.58.

Truist Financial Stock Down 7.2 %

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $40.59 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.34 and a beta of 1.10. The stock has a 50 day moving average price of $45.85 and a 200 day moving average price of $44.97.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date was Thursday, February 9th. Truist Financial’s payout ratio is 46.95%.

Insider Activity

In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of Truist Financial stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the transaction, the insider now owns 307,069 shares in the company, valued at $15,061,734.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director David M. Ratcliffe purchased 13,125 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was acquired at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the transaction, the director now directly owns 39,025 shares of the company’s stock, valued at approximately $1,486,072. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $49.05, for a total value of $1,727,982.45. Following the sale, the insider now owns 307,069 shares in the company, valued at approximately $15,061,734.45. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

A number of large investors have recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in Truist Financial during the first quarter valued at $25,000. Elequin Securities LLC purchased a new stake in shares of Truist Financial in the fourth quarter worth approximately $26,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Truist Financial by 555.8% during the third quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 528 shares during the period. Webster Bank N. A. grew its position in Truist Financial by 88.5% during the third quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in Truist Financial in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 72.49% of the company’s stock.

Truist Financial Company Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.