Truist Financial Co. (NYSE:TFC) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 50.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,434 shares of the insurance provider’s stock after selling 4,510 shares during the quarter. Avior Wealth Management LLC’s holdings in Truist Financial were worth $190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TFC. M&G Plc bought a new stake in shares of Truist Financial in the second quarter worth $2,804,000. Dimensional Fund Advisors LP increased its position in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC lifted its position in shares of Truist Financial by 66.4% during the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 61,683 shares during the last quarter. PGGM Investments acquired a new position in Truist Financial in the first quarter worth about $611,000. Finally, Concord Asset Management LLC VA grew its stake in Truist Financial by 523.4% in the third quarter. Concord Asset Management LLC VA now owns 65,686 shares of the insurance provider’s stock worth $2,809,000 after purchasing an additional 55,149 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TFC. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Compass Point lifted their price objective on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Twelve investment 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.com, the company currently has an average rating of “Hold” and an average target price of $46.37.

Truist Financial Stock Up 2.5 %

Truist Financial stock opened at $47.96 on Friday. The company’s 50-day moving average price is $43.68 and its two-hundred day moving average price is $41.53. The stock has a market cap of $63.67 billion, a price-to-earnings ratio of -33.54, a PEG ratio of 1.92 and a beta of 1.05. Truist Financial Co. has a 52 week low of $31.23 and a 52 week high of $48.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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 $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.34%. Truist Financial’s dividend payout ratio (DPR) is -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.