Element Wealth LLC bought a new position in Truist Financial Co. (NYSE:TFC – Free Report) during the 3rd quarter, Holdings Channel reports. The fund bought 5,250 shares of the insurance provider’s stock, valued at approximately $225,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC purchased a new position in shares of Truist Financial during the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial in the second quarter valued at $31,000. Hobbs Group Advisors LLC purchased a new position in Truist Financial during the 2nd quarter valued at $38,000. Finally, Beacon Capital Management LLC lifted its position in shares of Truist Financial by 57.4% in the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 370 shares during the period. Institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Down 0.0 %
TFC opened at $43.42 on Friday. Truist Financial Co. has a twelve month low of $27.01 and a twelve month high of $45.31. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average price of $42.76 and a 200-day moving average price of $40.41. The stock has a market capitalization of $58.15 billion, a price-to-earnings ratio of -30.36, a PEG ratio of 1.84 and a beta of 1.05.
Truist Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. 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 4.79%. Truist Financial’s dividend payout ratio is currently -145.45%.
Analyst Ratings Changes
Several equities analysts recently issued reports on TFC shares. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Compass Point upped their price target on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Stephens reissued an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Finally, Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $47.00 in a research report on Wednesday, July 24th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.02.
Get Our Latest Stock Analysis on TFC
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.
Read More
- Five stocks we like better than Truist Financial
- 3 Best Fintech Stocks for a Portfolio Boost
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- What Are Dividend Contenders? Investing in Dividend Contenders
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
- Airline Stocks – Top Airline Stocks to Buy Now
- The Downtrend in UPS Stock Isn’t Over Yet
Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC – Free Report).
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.