Quantbot Technologies LP acquired a new position in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 142,587 shares of the insurance provider's stock, valued at approximately $6,098,000.
A number of other large investors have also recently made changes to their positions in the business. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the third quarter worth $32,000. MFA Wealth Advisors LLC bought a new position in Truist Financial during the second quarter valued at about $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial in the 2nd quarter worth approximately $31,000. Finally, Fortitude Family Office LLC grew its stake in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider's stock worth $37,000 after acquiring an additional 678 shares during the period. 71.28% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday. UBS Group boosted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $47.17.
Check Out Our Latest Stock Report on TFC
Truist Financial Trading Down 0.8 %
Shares of NYSE:TFC traded down $0.40 during trading on Tuesday, reaching $47.70. 7,296,394 shares of the company were exchanged, compared to its average volume of 8,315,539. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $63.32 billion, a PE ratio of -33.64, a P/E/G ratio of 1.97 and a beta of 1.05. The business's fifty day simple moving average is $43.80 and its 200-day simple moving average is $41.61. Truist Financial Co. has a 12-month low of $31.23 and a 12-month high of $49.06.
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. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. On average, research analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.
Truist Financial Announces Dividend
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.36%. Truist Financial's dividend payout ratio is presently -145.45%.
Truist Financial Company Profile
(
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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