Capital Performance Advisors LLP purchased a new position in Truist Financial Co. (NYSE:TFC – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,367 shares of the insurance provider’s stock, valued at approximately $58,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Truist Financial in the 1st quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the 2nd quarter worth $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial in the 2nd quarter worth $31,000. Fortitude Family Office LLC lifted its holdings in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Truist Financial during the second quarter worth about $38,000. 71.28% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on TFC. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.02.
Get Our Latest Research Report on TFC
Truist Financial Stock Performance
Shares of TFC opened at $45.22 on Friday. The firm has a 50-day moving average of $42.88 and a 200-day moving average of $40.94. Truist Financial Co. has a one year low of $28.93 and a one year high of $47.03. The company has a market cap of $60.03 billion, a PE ratio of -31.62, a price-to-earnings-growth ratio of 1.94 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. As a group, equities analysts forecast that Truist Financial Co. will post 3.69 earnings per share for the current year.
Truist Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.
Truist Financial Company 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 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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