Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) in the third quarter, Holdings Channel.com reports. The firm acquired 21,598 shares of the insurance provider’s stock, valued at approximately $924,000.
A number of other institutional investors have also modified their holdings of TFC. Lecap Asset Management Ltd. purchased a new position in shares of Truist Financial in the 3rd quarter valued at about $1,204,000. Community Trust & Investment Co. increased its stake in shares of Truist Financial by 34.1% in the 3rd quarter. Community Trust & Investment Co. now owns 19,671 shares of the insurance provider’s stock valued at $841,000 after purchasing an additional 5,000 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Truist Financial by 6.3% in the 3rd quarter. Private Advisor Group LLC now owns 79,474 shares of the insurance provider’s stock valued at $3,399,000 after purchasing an additional 4,718 shares in the last quarter. BLB&B Advisors LLC acquired a new stake in Truist Financial in the 3rd quarter worth about $454,000. Finally, Accordant Advisory Group Inc boosted its holdings in Truist Financial by 336.7% in the 3rd quarter. Accordant Advisory Group Inc now owns 4,524 shares of the insurance provider’s stock worth $193,000 after buying an additional 3,488 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Up 0.1 %
Shares of NYSE TFC opened at $43.44 on Thursday. The firm has a market cap of $58.13 billion, a price-to-earnings ratio of -32.91, a PEG ratio of 1.83 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52-week low of $27.01 and a 52-week high of $45.31. The business’s 50 day moving average is $42.76 and its two-hundred day moving average is $40.41.
Truist Financial Dividend Announcement
The business 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -157.58%.
Analyst Ratings Changes
TFC has been the topic of several research analyst reports. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Argus lifted their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group lowered their price objective on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Stephens restated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.02.
Read Our Latest Report on Truist Financial
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.
Further Reading
- Five stocks we like better than Truist Financial
- What are earnings reports?
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- Earnings Per Share Calculator: How to Calculate EPS
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- 10 Best Airline Stocks to Buy
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC – Free Report).
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.