Douglass Winthrop Advisors LLC Increases Holdings in Truist Financial Co. (NYSE:TFC)

Douglass Winthrop Advisors LLC increased its holdings in Truist Financial Co. (NYSE:TFC) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,980 shares of the insurance provider’s stock after buying an additional 1,064 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Truist Financial were worth $812,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TFC. Fisher Asset Management LLC grew its position in Truist Financial by 4.5% during the 3rd quarter. Fisher Asset Management LLC now owns 7,995 shares of the insurance provider’s stock worth $342,000 after purchasing an additional 345 shares during the period. Daiwa Securities Group Inc. grew its stake in Truist Financial by 12.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 163,373 shares of the insurance provider’s stock valued at $6,987,000 after acquiring an additional 17,967 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Truist Financial by 7.6% during the third quarter. Summit Trail Advisors LLC now owns 15,229 shares of the insurance provider’s stock worth $651,000 after purchasing an additional 1,081 shares in the last quarter. SevenBridge Financial Group LLC acquired a new position in shares of Truist Financial during the third quarter valued at approximately $211,000. Finally, Centaurus Financial Inc. raised its stake in Truist Financial by 28.2% in the 3rd quarter. Centaurus Financial Inc. now owns 16,168 shares of the insurance provider’s stock valued at $691,000 after purchasing an additional 3,559 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.3 %

TFC stock opened at $48.12 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $49.06. The firm has a market capitalization of $63.88 billion, a price-to-earnings ratio of -33.65, a PEG ratio of 1.97 and a beta of 1.05. The company’s 50 day moving average price is $43.80 and its 200 day moving average price is $41.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, equities research analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 annualized dividend and a dividend yield of 4.32%. Truist Financial’s dividend payout ratio is currently -145.45%.

Wall Street Analyst Weigh In

A number of analysts have commented on TFC shares. Citigroup increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Compass Point raised their price objective on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, UBS Group lifted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $46.57.

Truist Financial 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.