J.W. Cole Advisors Inc. Has $1.30 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

J.W. Cole Advisors Inc. lowered its position in Truist Financial Co. (NYSE:TFC) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,445 shares of the insurance provider’s stock after selling 3,048 shares during the period. J.W. Cole Advisors Inc.’s holdings in Truist Financial were worth $1,299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial during the first quarter worth $29,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial during the second quarter valued at about $31,000. Finally, Rise Advisors LLC bought a new stake in shares of Truist Financial during the first quarter worth about $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TFC. Argus raised their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned 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 $45.45.

Truist Financial Stock Up 0.5 %

TFC stock opened at $41.84 on Monday. The stock has a fifty day moving average of $42.53 and a 200-day moving average of $39.34. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of -31.70, a PEG ratio of 1.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the business earned $0.95 earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, equities research analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.97%. Truist Financial’s dividend payout ratio is currently -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.