Crossmark Global Holdings Inc. reduce holdings in Truist Financial Co. (NYSE:TFC)

Crossmark Global Holdings Inc. reduced its holdings in Truist Financial Co. (NYSE:TFC – Free Report) by 11.3% during the 2nd quarter, Holdings Channel reports. The firm owned 80,200 shares of the insurance provider’s stock after selling 10,259 shares during the quarter. The holdings of Crossmark Global Holdings Inc. holdings in Truist Financial were worth $3,116,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Crewe Advisors LLC purchased a new position in Truist Financial in the first quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial in the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial in the second quarter valued at approximately $30,000. Missouri Trust & Investment Co raised its stake in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares during the period. Finally, Rise Advisors LLC acquired a new stake in Truist Financial in the 1st quarter worth about $32,000. 71.28% of the shares are currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC stock opened at $44.46 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86, and a current ratio of 0.86. The stock has a market cap of $59.54 billion, a price-to-earnings ratio of -33.68, a PEG ratio of 2.07 and a beta of 1.06. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The company’s 50-day simple moving average is $41.49, and its 200-day simple moving average is $38.73.

Truist Financial (NYSE:TFC – Get Free Report ) last posted its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. In the same quarter last year, the business posted EPS of $0.95. Truist Financial’s quarterly revenue was down 15.9% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Co. will post 3.56 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9. This represents an annualized dividend of $2.08 and a yield of 4.68%. Truist Financial’s payout ratio is -157.58%.

Insiders place their bets

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a filing with the SEC, which is available via this link. In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. Disclosure for this purchase can be found here. 0.17% of shares are owned by corporate insiders.

The Wall Street analyst weighs in

A number of brokerages weighed in on TFC. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Argus boosted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. HSBC raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Stephens boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Baird RW cut Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Truist Financial presently has a consensus rating of “Hold” and a consensus price target of $45.30, according to MarketBeat.com.

Check out our latest analysis of TFC

Truist financial profile

(Free report)

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 non-interest-bearing accounts, interest-bearing checking, savings and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

Featured stories

Want to see what other hedge funds own TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Truist Financial Co. (NYSE:TFC – Free Report).

Get news and reviews for Truist Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Truist Financial and related companies with MarketBeat.com’s FREE daily email newsletter.