Thrivent Financial for Lutherans Purchases 12,300 Shares of Truist Financial Co. (NYSE:TFC)

Thrivent Financial for Lutherans grew its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 17.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 82,255 shares of the insurance provider's stock after purchasing an additional 12,300 shares during the quarter. Thrivent Financial for Lutherans' holdings in Truist Financial were worth $3,518,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of TFC. Capital Investment Counsel Inc grew its position in Truist Financial by 0.4% in the second quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider's stock worth $2,413,000 after buying an additional 244 shares during the last quarter. Burkett Financial Services LLC grew its holdings in shares of Truist Financial by 26.8% in the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider's stock worth $51,000 after acquiring an additional 253 shares during the last quarter. Verum Partners LLC raised its position in shares of Truist Financial by 2.5% during the second quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider's stock worth $411,000 after purchasing an additional 261 shares during the period. CX Institutional lifted its holdings in shares of Truist Financial by 3.4% during the second quarter. CX Institutional now owns 8,050 shares of the insurance provider's stock valued at $313,000 after purchasing an additional 263 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in Truist Financial by 2.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider's stock worth $445,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on TFC shares. UBS Group boosted their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Compass Point boosted their target price on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Wells Fargo & Company increased their target price on Truist Financial from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Finally, Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $47.17.

Truist Financial Stock Performance

TFC traded down $0.23 during trading on Tuesday, hitting $47.87. The stock had a trading volume of 3,426,496 shares, compared to its average volume of 8,297,359. 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 Co. has a 12 month low of $31.23 and a 12 month high of $49.06. The company has a 50 day simple moving average of $43.80 and a 200-day simple moving average of $41.61. The firm has a market cap of $63.55 billion, a PE ratio of -33.64, a P/E/G ratio of 1.97 and a beta of 1.05.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Analysts expect 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. Stockholders of record on Friday, November 8th will be given 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 4.35%. Truist Financial's dividend payout ratio is -145.45%.

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.