Rosenberg Matthew Hamilton Acquires 352 Shares of Truist Financial Co. (NYSE:TFC)

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Rosenberg Matthew Hamilton grew its position in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 58.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 952 shares of the insurance provider’s stock after purchasing an additional 352 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Truist Financial were worth $46,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in Truist Financial by 0.6% in the fourth quarter. Cetera Investment Advisers now owns 32,460 shares of the insurance provider’s stock worth $1,901,000 after buying an additional 178 shares in the last quarter. Samalin Investment Counsel LLC boosted its stake in shares of Truist Financial by 5.5% during the fourth quarter. Samalin Investment Counsel LLC now owns 3,771 shares of the insurance provider’s stock valued at $221,000 after purchasing an additional 195 shares during the period. Monte Financial Group LLC boosted its stake in shares of Truist Financial by 1.5% during the first quarter. Monte Financial Group LLC now owns 13,844 shares of the insurance provider’s stock valued at $785,000 after purchasing an additional 200 shares during the period. CKW Financial Group boosted its stake in shares of Truist Financial by 25.0% during the first quarter. CKW Financial Group now owns 1,000 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 200 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Truist Financial by 0.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,806 shares of the insurance provider’s stock valued at $1,293,000 after purchasing an additional 203 shares during the period. Institutional investors own 73.31% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of analyst reports. StockNews.com raised Truist Financial from a “hold” rating to a “buy” rating in a research note on Thursday. Credit Suisse Group decreased their target price on Truist Financial to $52.00 in a report on Friday, July 22nd. Compass Point downgraded Truist Financial from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Monday, August 15th. Piper Sandler decreased their target price on Truist Financial to $52.00 in a report on Friday, July 22nd. Finally, Barclays decreased their target price on Truist Financial to $61.00 in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.63.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $44.34 on Friday. Truist Financial Co. has a 1-year low of $43.54 and a 1-year high of $68.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.75. The business has a fifty day moving average price of $48.68 and a 200-day moving average price of $50.06. The company has a market capitalization of $58.81 billion, a PE ratio of 10.05, a PEG ratio of 1.92 and a beta of 1.12.

Truist Financial (NYSE:TFCGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The insurance provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. Truist Financial had a return on equity of 12.14% and a net margin of 27.25%. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the firm posted $1.55 earnings per share. Truist Financial’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Truist Financial Co. will post 5 EPS for the current fiscal year.

Truist Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, August 11th. This is a boost from Truist Financial’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a dividend yield of 4.69%. Truist Financial’s dividend payout ratio (DPR) is 47.17%.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. sold 142,606 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $47.78, for a total transaction of $6,813,714.68. Following the sale, the chief executive officer now directly owns 862,590 shares of the company’s stock, valued at $41,214,550.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by insiders.

Truist Financial Profile

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Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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