Truist Financial Co. (NYSE:TFC) Stock Position Lifted by Dakota Wealth Management

Dakota Wealth Management boosted its stake in Truist Financial Co. (NYSE:TFC) by 82.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,993 shares of the insurance provider’s stock after buying an additional 67,967 shares during the quarter. Dakota Wealth Management’s holdings in Truist Financial were worth $6,415,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TFC. Crewe Advisors LLC acquired a new position in Truist Financial in the first quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial during the 2nd quarter worth $30,000. Y.D. More Investments Ltd bought a new position in shares of Truist Financial during the 2nd quarter valued at $31,000. Hobbs Group Advisors LLC bought a new stake in Truist Financial in the second quarter worth $38,000. Finally, Beacon Capital Management LLC increased its position in Truist Financial by 57.4% during the first quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TFC shares. Compass Point upped their price target on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.02.

Truist Financial Stock Down 1.8 %

Shares of NYSE:TFC opened at $42.63 on Friday. The company has a market capitalization of $57.04 billion, a PE ratio of -32.30, a P/E/G ratio of 1.84 and a beta of 1.05. 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 company’s fifty day moving average is $42.78 and its 200-day moving average is $40.43. Truist Financial Co. has a 52 week low of $27.38 and a 52 week high of $45.31.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 4.88%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is -157.58%.

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.