Huntington National Bank trimmed its position in Truist Financial Corporation (NYSE:TFC) by 14.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,374 shares of the insurance provider’s stock after selling 19,564 shares during the quarter. Huntington National Bank’s holdings in Truist Financial were worth $4,333,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TFC. Global Retirement Partners LLC lifted its stake in Truist Financial by 3.3% during the second quarter. Global Retirement Partners LLC now owns 35,665 shares of the insurance provider’s stock worth $1,339,000 after purchasing an additional 1,125 shares in the last quarter. Salem Capital Management Inc. acquired a new stake in shares of Truist Financial in the first quarter valued at $1,880,000. Sound Income Strategies LLC grew its stake in shares of Truist Financial by 164.5% in the second quarter. Sound Income Strategies LLC now owns 804 shares of the insurance provider’s stock valued at $30,000 after buying an additional 500 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Truist Financial by 12.4% in the first quarter. APG Asset Management N.V. now owns 3,590,632 shares of the insurance provider’s stock valued at $110,735,000 after buying an additional 396,524 shares in the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Truist Financial in the first quarter valued at $7,630,000. Institutional investors own 72.03% of the company’s stock.

Shares of NYSE:TFC traded up $0.22 during midday trading on Friday, hitting $37.46. 5,053,019 shares of the stock were exchanged, compared to its average volume of 4,526,415. The stock has a market cap of $50.18 billion, a P/E ratio of 12.08, a PEG ratio of 1.36 and a beta of 1.45. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68. Truist Financial Corporation has a twelve month low of $24.01 and a twelve month high of $56.92. The company has a 50 day moving average price of $37.31 and a 200-day moving average price of $40.36.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, July 16th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.18. Truist Financial had a return on equity of 8.07% and a net margin of 17.32%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter in the previous year, the company posted $1.09 EPS. On average, equities research analysts expect that Truist Financial Corporation will post 3.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, August 13th. Truist Financial’s payout ratio is 41.19%.

Several research firms recently commented on TFC. Zacks Investment Research cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Wolfe Research began coverage on Truist Financial in a research note on Friday. They set an “outperform” rating for the company. UBS Group boosted their target price on Truist Financial to $36.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Compass Point boosted their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Raymond James raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, June 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Truist Financial has a consensus rating of “Buy” and an average target price of $46.55.

In other Truist Financial news, COO William H. Rogers, Jr. sold 86,287 shares of Truist Financial stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $36.70, for a total value of $3,166,732.90. Following the completion of the sale, the chief operating officer now owns 782,386 shares in the company, valued at approximately $28,713,566.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brantley J. Standridge sold 4,800 shares of Truist Financial stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $31.82, for a total value of $152,736.00. Following the completion of the sale, the vice president now owns 14,010 shares of the company’s stock, valued at approximately $445,798.20. The disclosure for this sale can be found here. Insiders sold a total of 101,087 shares of company stock valued at $3,639,169 in the last three months. 0.35% of the stock is currently owned by corporate insiders.

Truist Financial Company Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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

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