Truist Financial Co. (NYSE:TFC) Position Boosted by Harbour Investments Inc.

Harbour Investments Inc. lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,313 shares of the insurance provider’s stock after buying an additional 537 shares during the quarter. Harbour Investments Inc.’s holdings in Truist Financial were worth $184,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TFC. Crewe Advisors LLC bought a new position in Truist Financial in the first quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the second quarter worth about $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial in the second quarter worth about $31,000. Fortitude Family Office LLC lifted its holdings in Truist Financial by 376.7% in 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 last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Truist Financial in the second quarter worth about $38,000. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TFC. Royal Bank of Canada lifted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, Wolfe Research raised 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 given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.37.

Truist Financial Trading Up 0.5 %

Shares of NYSE:TFC opened at $46.79 on Tuesday. The firm has a fifty day moving average of $43.27 and a two-hundred day moving average of $41.33. The firm has a market capitalization of $62.11 billion, a P/E ratio of -32.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a 12-month low of $31.23 and a 12-month high of $47.57. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) 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 business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. On average, equities analysts expect 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. Investors of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is presently -145.45%.

Truist Financial Company 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.