Truist Financial Co. (NYSE:TFC) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA increased its holdings in Truist Financial Co. (NYSE:TFC) by 10.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,152 shares of the insurance provider’s stock after buying an additional 1,631 shares during the period. Private Trust Co. NA’s holdings in Truist Financial were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the third quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial during the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the 2nd quarter valued at about $31,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Truist Financial in the third quarter worth about $32,000. Finally, Fortitude Family Office LLC grew 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 during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE TFC opened at $47.71 on Wednesday. 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 stock’s fifty day moving average is $43.91 and its two-hundred day moving average is $41.66. The firm has a market capitalization of $63.33 billion, a P/E ratio of -33.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. On average, research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is presently -145.45%.

Analyst Ratings Changes

TFC has been the topic of several recent research reports. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Compass Point lifted their price objective on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. UBS Group increased their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Stephens restated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods increased their price target on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.17.

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.