Curi RMB Capital LLC Sells 323 Shares of Truist Financial Co. (NYSE:TFC)

Curi RMB Capital LLC lowered its position in Truist Financial Co. (NYSE:TFC) by 5.2% in the 3rd quarter, Holdings Channel reports. The firm owned 5,945 shares of the insurance provider’s stock after selling 323 shares during the quarter. Curi RMB Capital LLC’s holdings in Truist Financial were worth $254,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital International Investors boosted its holdings in Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after acquiring an additional 5,632,493 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the period. Swedbank AB bought a new position in shares of Truist Financial in the first quarter worth about $29,957,000. National Bank of Canada FI increased its stake in Truist Financial by 41.8% in the 1st quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after buying an additional 541,037 shares during the period. Finally, GW Henssler & Associates Ltd. lifted its holdings in Truist Financial by 4,435.3% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock valued at $21,605,000 after buying an additional 494,007 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC stock opened at $46.55 on Friday. Truist Financial Co. has a fifty-two week low of $31.13 and a fifty-two week high of $47.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $61.80 billion, a price-to-earnings ratio of -32.55, a PEG ratio of 1.91 and a beta of 1.05. The stock’s 50-day simple moving average is $43.18 and its 200-day simple moving average is $41.22.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. As a group, equities analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. Truist Financial’s dividend payout ratio is currently -145.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TFC. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Compass Point increased their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Finally, Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $46.37.

About Truist Financial

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.