Truist Financial Co. (NYSE:TFC) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its stake in Truist Financial Co. (NYSE:TFC) by 40.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,563 shares of the insurance provider’s stock after selling 37,103 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Truist Financial were worth $2,120,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Crewe Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Truist Financial during the first quarter valued at $29,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the second quarter worth about $31,000. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial during the 1st quarter worth about $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TFC shares. Keefe, Bruyette & Woods upped their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America increased their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus price target of $45.45.

Insider Activity

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

Truist Financial Trading Down 2.5 %

Shares of TFC stock opened at $41.72 on Wednesday. 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. The company’s 50-day moving average price is $42.72 and its 200-day moving average price is $39.84. The stock has a market cap of $55.87 billion, a price-to-earnings ratio of -31.61, a PEG ratio of 1.95 and a beta of 1.06.

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. As a group, equities analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.99%. Truist Financial’s dividend payout ratio is currently -157.58%.

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.