Sanctuary Advisors LLC Has $14.71 Million Position in Truist Financial Corporation $TFC

Sanctuary Advisors LLC lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 21.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 295,323 shares of the insurance provider’s stock after acquiring an additional 51,279 shares during the period. Sanctuary Advisors LLC’s holdings in Truist Financial were worth $14,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in Truist Financial during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of Truist Financial in the 4th quarter valued at $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Truist Financial in the 2nd quarter valued at $30,000. Navigoe LLC bought a new position in shares of Truist Financial in the 2nd quarter valued at $30,000. Finally, McMillan Office Inc. bought a new position in shares of Truist Financial in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.1%

TFC opened at $50.48 on Monday. The stock has a market cap of $61.67 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.06 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The company has a fifty day moving average of $51.26 and a 200-day moving average of $49.80.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial Corporation will post 4.58 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio is presently 47.71%.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the transaction, the director directly owned 10,270 shares of the company’s stock, valued at approximately $520,689. The trade was a 27.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donta L. Wilson sold 13,280 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the transaction, the insider owned 56,009 shares in the company, valued at $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,516 shares of company stock worth $1,584,428 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 29th. Robert W. Baird lifted their target price on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $54.00 price target (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.12.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.