Silver Oak Securities Incorporated Acquires 2,030 Shares of Truist Financial Co. (NYSE:TFC)

Silver Oak Securities Incorporated raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 18.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,170 shares of the insurance provider’s stock after purchasing an additional 2,030 shares during the period. Silver Oak Securities Incorporated’s holdings in Truist Financial were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Capital International Investors boosted its holdings in Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after acquiring an additional 5,632,493 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after purchasing an additional 1,609,351 shares during the period. Jennison Associates LLC boosted its stake in shares of Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after purchasing an additional 1,261,598 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Truist Financial by 44.4% during the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after buying an additional 834,048 shares during the period. Finally, Retirement Systems of Alabama raised its stake in Truist Financial by 278.6% in the first quarter. Retirement Systems of Alabama now owns 1,112,844 shares of the insurance provider’s stock worth $43,379,000 after buying an additional 818,916 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 1.8 %

Truist Financial stock opened at $42.63 on Friday. Truist Financial Co. has a 12 month low of $27.38 and a 12 month high of $45.31. The stock has a fifty day simple moving average of $42.79 and a two-hundred day simple moving average of $40.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market cap of $57.04 billion, a price-to-earnings ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05.

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 issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.88%. Truist Financial’s payout ratio is -157.58%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TFC shares. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, July 17th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. UBS Group raised their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Bank of America upped their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Citigroup cut shares of 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 research report on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $46.02.

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.