Ieq Capital LLC Increases Position in Truist Financial Co. (NYSE:TFC)

Ieq Capital LLC increased its holdings in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 97.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,262 shares of the insurance provider’s stock after purchasing an additional 15,901 shares during the period. Ieq Capital LLC’s holdings in Truist Financial were worth $1,405,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new position in Truist Financial in the 1st quarter worth about $25,000. United Bank raised its holdings in shares of Truist Financial by 4.1% during the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after acquiring an additional 2,938 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Truist Financial by 33.3% during the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after acquiring an additional 6,593 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Truist Financial by 3.3% during the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after acquiring an additional 738 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Truist Financial by 8.1% during the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after acquiring an additional 4,234 shares during the last quarter. Hedge funds and other institutional investors own 72.49% of the company’s stock.

Truist Financial Stock Down 1.0 %

Shares of NYSE TFC opened at $48.34 on Wednesday. Truist Financial Co. has a 12-month low of $40.01 and a 12-month high of $66.10. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $64.14 billion, a P/E ratio of 10.91, a PEG ratio of 1.25 and a beta of 1.08. The business’s fifty day simple moving average is $44.63 and its 200-day simple moving average is $45.96.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.30%. Truist Financial’s payout ratio is 46.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TFC shares. StockNews.com lowered Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 24th. Wells Fargo & Company dropped their price target on Truist Financial to $57.00 in a research report on Wednesday, December 14th. Jefferies Financial Group upgraded Truist Financial from a “hold” rating to a “buy” rating in a research report on Monday, January 9th. TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a research report on Monday. Finally, Royal Bank of Canada dropped their price target on Truist Financial from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $52.59.

About Truist Financial

(Get Rating)

Truist Financial Corporation, a holding 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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