Truist Financial Co. (NYSE:TFC) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 12.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 37,049 shares of the insurance provider’s stock after selling 5,127 shares during the period. Arvest Investments Inc.’s holdings in Truist Financial were worth $1,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TFC. GSA Capital Partners LLP lifted its position in Truist Financial by 97.1% during the 1st quarter. GSA Capital Partners LLP now owns 13,191 shares of the insurance provider’s stock worth $514,000 after acquiring an additional 6,500 shares in the last quarter. Empowered Funds LLC raised its position in shares of Truist Financial by 6.7% in the 1st quarter. Empowered Funds LLC now owns 71,319 shares of the insurance provider’s stock valued at $2,780,000 after purchasing an additional 4,456 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Truist Financial by 22.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 36,875 shares of the insurance provider’s stock valued at $1,437,000 after purchasing an additional 6,826 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of Truist Financial by 11.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 18,792 shares of the insurance provider’s stock valued at $733,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Truist Financial by 132.6% in the 1st quarter. Headlands Technologies LLC now owns 14,054 shares of the insurance provider’s stock valued at $548,000 after purchasing an additional 8,011 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TFC shares. JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has an average rating of “Hold” and a consensus target price of $46.02.

Truist Financial Stock Performance

Shares of TFC traded down $0.45 during trading hours on Friday, reaching $45.22. 9,361,938 shares of the company’s stock traded hands, compared to its average volume of 9,872,538. The firm has a market capitalization of $60.03 billion, a price-to-earnings ratio of -31.62, a P/E/G ratio of 1.86 and a beta of 1.05. 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 Co. has a twelve month low of $28.93 and a twelve month high of $47.03. The business’s fifty day simple moving average is $42.88 and its two-hundred day simple moving average is $40.95.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating 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 business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 annualized dividend and a yield of 4.60%. Truist Financial’s dividend payout ratio is currently -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.