BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Truist Financial Co. (NYSE:TFC - Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 483,801 shares of the insurance provider's stock after buying an additional 34,543 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Truist Financial were worth $20,692,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in Truist Financial during the 3rd quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial during the second quarter valued at about $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial in the second quarter worth about $31,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial during the third quarter worth approximately $32,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider's stock worth $37,000 after buying an additional 678 shares in the last quarter. 71.28% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Compass Point lifted their target price on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Stephens reaffirmed an "overweight" rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Finally, Morgan Stanley increased their price objective 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. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.37.
Read Our Latest Stock Analysis on TFC
Truist Financial Stock Up 2.5 %
Shares of TFC stock traded up $1.15 during mid-day trading on Friday, hitting $47.96. 8,587,856 shares of the stock traded hands, compared to its average volume of 8,504,333. The stock has a market cap of $63.67 billion, a P/E ratio of -33.54, a P/E/G ratio of 1.92 and a beta of 1.05. The stock's fifty day moving average is $43.68 and its two-hundred day moving average is $41.51. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $48.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.
Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 9.35% and a negative net margin of 4.89%. Equities analysts predict that Truist Financial Co. will post 3.7 EPS for the current 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial's payout ratio is -145.45%.
About Truist Financial
(
Free Report)
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.
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